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China inflation at near three-year high

• http://english.aljazeera.net/
 

China's consumer price index, the official measure of inflation, has reached its highest level for nearly three years.

The National Statistics bureau said on Tuesday that consumer prices in May rose 5.5 per cent over a year earlier, driven by an 11.7 per cent jump in food costs.

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.

The inflation for last month was up from April's 5.3 per cent rate and exceeded March's 32-month high of 5.4 per cent.

The figure was in line with economists' forecasts, but well above the government's four per cent target for the year.

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