Latest data released by the National Bureau of Statistics show that Consumer Price Index (CPI) rose by 5.6 percent in July this year, setting a new high in 10 years. This level was last attained in February 1997.
The Central Bank, which recently released the country's monetary policy implementation report in second quarter of 2007, said that more focus should be put on issues like inflation and price hikes so that they can be curbed.
Experts believe that the Central Bank would further raise interest rates within the year in order to counter inflation.
Fibre2fashion News Desk - China
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