Bank of China has issued a forecast that China's consumer price index will hit a new high for February, rising 8.3 per cent, state media reports.
As a result of the worst winter weather in 50 years, food prices will
have risen 6-7 per cent month-on-month in February and 22-23 per cent
year-on-year, according to a report by the Global Financial Market
Department of Bank of China. The prediction follows a 7.1 per cent rise
in January, the fastest rate of inflation growth in China for more than
11 years.
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