China's Inflation Easing Amidst Huge Price Rises

China inflation to ease, already peaked - economist
BEIJING (Reuters) - China's inflation rate is expected to slow further in coming months as the consumer price index (CPI) had already peaked in August, the chief economist with the National Bureau of Statistics said on Saturday.

Must bite lip.

"Even illiterate grandmothers are talking about the phrase 'CPI' these days," Yao Jingyuan told a forum in Beijing. "But in my view, China is in no danger of overall inflation and the current price increases are a structural problem."

Must keep calm composure.

"But now who is rushing out to buy stuff? Can you buy several tonnes of pork and pack them in your refrigerator?"

Must not mention pork shortages.

More price hikes likely
Huge rises in commodity prices are exerting mounting pressure on inflation, a senior economic official has warned amid concerns that rising global oil prices may soon push production costs higher.

Okay, that's it. Must use sarcasm! Who are you going to trust? A Chinese senior economic official or a Chinese senior economic official? They don't appear to be saying the same things!

However, several economists have said energy prices were not the only reason for the inflation. They have repeatedly warned that the country has entered into "a cycle of high prices," saying high investment costs, growing wages, increasing consumption demand and price hikes in the international market have fueled inflation fears.

Here comes our next prosperity wave! Surf's up!