Inflation forecasted to increase more inspite of government steps.

By bne IntelliNews November 23, 2010

China's inflation is forecasted to get higher irrespective of the government's introduction of a number of measures to restrict rising commodity prices. As reported by Organization of Asia-Pacific News Agencies, Qu Hongbin, chief economist of greater China at British bank HSBC Holdings Plc stated that the main reason behind the recent increase in CPI is the food price hikes. The State Council and the country's cabinet had announced 16 measures to curb the spike in food and fuel prices.

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