30-Sep-2010 11:08 AM

Asian Development Bank downgrades China's inflation to 3.2% in 2010

The Asian Development Bank downgraded its forecast for China’s consumer price index (CPI) from 3.6% to 3.2% for 2010, due to the postponing of price increases for water, natural gas and electricity from this year to next year (Shanghai Securities News, 29-Sep-2010). China’s CPI rose to a 22-month high of 3.5% in Aug-2010. The bank maintains its forecast of China’s GDP growth of 9.6% in 2010 and 9.1% in 2011.