China Aug CPI Growth Likely to Exceed July Level

China's consumer price index (CPI) growth in August is likely to exceed the 5.6 pct reported in July, the official China Securities Journal reported, citing Bi Jingquan, vice director of the National Development and Reform Commission (NDRC).

The CPI growth in July was the highest single-month level since February 1997.

China is due to release CPI data for August on Sept 11.

Bi noted that the target CPI growth of 3.0 pct for 2007 is a goal set at the beginning of the year, and it is normal for actual price growth to exceed targets.

Earlier, central bank vice governor Su Ning said that even if measures in place to control price hikes are taken into account, it is likely that inflation this year will be over 3.0 pct.