Xinhua quoted according to a survey of 56 leading economists, China high inflation rate could continue well until the second or third quarter of this year.

The Beijing based Economic Observer a weekly newspaper reported citing the survey it conducted that about 21% of the economists surveyed said the current high inflation rate may last until the third quarter while 58% of them said that inflation could ease by the second quarter.

As per report, 58% of the economists said inflation would remain high in the first quarter after the consumer price index the main gauge of inflation soared to a 28-month high of 5.1% in November last year.

Economists from the China Jianyin Investment Securities said in the survey that inflation could well peak in June this year at 6.3% but the CPI would drop below 4% from October. About 33% of the economists believe rising international commodity prices and increasing food prices at home will be the two major factors pushing the index higher while 28% see excessive liquidity in the market as the main reason for the high inflation.

(Sourced from Xinhua)