China's consumer inflation is likely to ease below 5 percent by November and December, a senior official at the country's economic planner said in remarks published on Monday, raising hopes Beijing can contain prices that have held near three-year highs.
Peng Sen, a vice chairman at the National Development and Reform Commission, was quoted by the Securities Times as saying that consumer price index (CPI) had reached a turning point and inflationary pressures would ease further in the rest of 2011.
We have seen this year's turning point in inflation and the CPI is expected to stay in control under 5 percent in last two months of the year, Peng said.
China's inflation dipped to 6.1 percent in September, retreating further from three-year highs of 6.5 percent struck in July.
But even with price rises easing, officials and economists said full-year inflation may stay well above the 4 percent full-year target set by the government at the start of the year.
(Reporting by Aileen Wang and Koh Gui Qing; Editing by Ken Wills)