Chinese premier acknowledges "increasing inflationary pressure"

Source: Xinhua | 03-05-2008 10:13

BEIJING, March 5 (Xinhua) -- Chinese Premier Wen Jiabao admitted on Wednesday the country is facing "increasing inflationary pressures" and its task of holding down inflation is "difficult."

"The current price hikes and increasing inflationary pressures are the biggest concern of the people," Wen said in his report to the First Session of the 11th National People's Congress opening here on Wednesday.

Last year, China's consumer price index (CPI) rose by 4.8 percent year-on-year, mainly due to rises in the cost of food and housing.　

Editor:Zhang Pengfei