Steadied inflation

With consumer inflation leveling off in February, policymakers have got more elbow room to check prices from rising further, a top priority for them this year.

Latest statistics show the consumer price index (CPI), a major gauge of inflation, rose 4.9 percent in February over the same month last year. The rate of increase in January was the same.

Though still above the official goal of 4 percent, the new inflation figure raises hopes that the government will succeed in keeping overall prices stable this year. And if that turns out to be true, the second largest economy's success will help the rest of the world to ease price pressures without unduly harming growth.