China’s Inflation to Remain High

China’s consumer prices will remain high in the third quarter with July’s inflation figure forecast to be between 6 to 6.7%, according to analysts. The consumer price index, a main gauge of inflation, will climb to 6.5% year-on-year in July after hitting a three-year high of 6.4% in June. But this may not be the highest in the year, China’s (Xinhua) news agency quoted Lu Zhengwei, analyst with the Industrial Bank, as saying. Fueled by rising food prices, especially the price of grain, seafood, eggs and imported staple foods, July’s CPI could reach 6.7%, according to Shenyin & Wanguo Securities.