0
BEIJING, March 11: Inflation in China hit a near 12-year high of 8.7 per cent in February, the government said on Tuesday as it called for a “cool-headed” response to one of the nation’s most pressing economic concerns. The figure, issued by the National Bureau of Statistics, marked the steepest rise in consumer prices since May 1996 and showed China’s policymakers falling further behind in their efforts to keep inflation to 4.8pc this year.
“China’s inflation will stay for quite a long time,” said Dong Tao, a Hong Kong-based economist with Credit Suisse.—AFP
