China?s inflation at its highest

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Despite the government?s efforts to take control, inflation in China has hit its highest level in the last 34 months. According to the National Bureau of Statistics, consumer prices rose by 5.5% last month; while food prices surged by 11.7 percent.

The world’s second-largest economy is “still facing significant inflationary pressures” and must implement measures to contain prices, Sheng Laiyun, national bureau of statistics spokesman, said.

Though the figure was in line with economists’ forecasts, but well above the government’s 4% target for the year.

The rising cost of food and basic commodities have pushed the cost of living and is the current political issue in the country.

Source: BBC

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