China should remain on high alert for inflation and the bank will take measures, including monetary policy adjustments, to stabilize prices, said Zhou Xiaochuan, Governor of the People's Bank of China, Wednesday.
Zhou made the remarks at a press conference on the sidelines of the annual session of the National People's Congress.
China's consumer price index (CPI), the main gauge of inflation, rebounded to a 10-month high of 3.2 percent in February.
Zhou attributed the higher-than-expected index partly to the lower comparison base last year as the data was calculated on a year-on-year basis.
On a month-on-month basis, February's CPI gained 1.1 percent from the previous month.
China aims to hold this year's consumer price growth at around 3.5 percent, lower than the 4-percent target for 2012 but higher than last year's actual inflation rate of 2.6 percent.
(Xinhua News Agency March 13, 2013) |