People’s Bank of China Gov. Zhou Xiaochuan Wednesday signaled elevated concern over inflation and a slightly tighter bias for central-bank policy this year.
Inflation was subdued in China for most of 2012, but with economic growth rebounding since late last year, concerns over rising prices are coming back to the forefront.
China’s consumer-price index in February was up 3.2% from a year earlier, accelerating from January’s 2% pace. That signals the central bank must be on guard against inflation, Mr. Zhou said—though he said that distortions from the timing of the Lunar New Year holiday, which fell in February this year but in January last year, played a role in the high reading.
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Aaron Back, Wall Street Journal via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/3NDXUsJ7h-4/
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