The number

1.7 percent

China's inflation rate is likely to fall below 2 percent in July due to the base effect, giving authorities more room to beef up monetary supply to support growth, according to the latest bank estimations. The consumer price index, a key gauge of inflation, will rise 1.7 percent year-on-year in July, slower than the 2.2-percent growth seen in June, the Bank of Communications said in its monthly economic data forecast reports.