According to the data issued on February 14 by
China's National Bureau of Statistics, in January 2007 the national consumer price index (CPI) grew by 2.2 percent year on year, including a two percent year-on-year rise for urban consumers and a 2.6 percent increase for rural consumers. On a month-on-month basis,
China's January CPI was up 0.7 percent compared with December 2006.
Generally speaking,
China's CPI is still at a low level. Although the People's Bank of
China is very alert to inflation, there is no possibility of an interest rate increase in the short run.