Price stability top priority: China's central bank

Updated: 2011-09-12 11:25


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BEIJING - People's Bank of China, the country's central bank, reiterated on Monday that stabilizing the overall price levels remained the top priority of macro-economic regulation.

Some factors that drive prices upwards had been contained but not eliminated, while inflation remained at high levels, the central bank said.

It said the country would continue the prudent monetary policy and keep the growth of credit stable and moderate.

This came after data showed China's consumer price index, a main gauge of inflation, climbed 6.2 percent year-on-year in August, cooling from a 37-month high of 6.5 percent in July.

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