China’s rising inflation has spirits falling

China’s latest inflation rate of 4.4% is hitting its citizens in their wallets as well as their stomachs as prices for staples such as pork and eggs keep rising. However, government officials remain optimistic that they can bring the inflation under control.

Economists and analysts have warned that China’s Consumer Price Index might accelerate by more than 5% in the absence of decisive control measures, with some expecting the CPI to grow by up to 8% by the middle of next year.

AsiaTimes