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June CPI might hit new record

By Ben Yue (chinadaily.com.cn)
Updated: 2011-07-04 17:20

China's CPI growth might hit 6.2 percent in June, China Securities Journal reported on Monday, citing analysts'expectations.

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The report said soaring food prices and last month's high CPI are the main reasons for the even higher June figure, but the official data from the National Bureau of Statistics will not be released until the middle of July.

According to the Ministry of Commerce, the price of pork in China has been increasing for 10 weeks. House keeping items, which take the second biggest percentage, also jumped 6.1 percent in May.

Analysts said the CPI for June might be the peak of the year. Although the economy growth has been curbed with lower money supply growth and the Purchasing Managers' Index in June, inflation will still be the regulator's most important goal.