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China Inflation 'To Remain High'

1/20/2011 2:07 AM ET

Chinese consumer price inflation will stay high in the first quarter of 2011, a government body said on Thursday shortly after official figures showed inflation cooled in December.

The National Development and Reform Commission said the pullback was mainly due to base effects in the same period a year ago.

The planning body added prices will continue to remain high in the first quarter due to high inflation expectations and strong demand during the Lunar New Year holiday season.

The consumer price index rose 4.6% year-on-year in December, down from 5.1% in the previous month. Food inflation was at 9.6%.

by RTT Staff Writer

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