China inflation rate increases to 3.6 percent in March amid higher fuel prices

Beijing, April 9 (ANI): China's inflation has increased to 3.6 per cent in March as higher fuel and food costs pushed up consumer prices.

It was higher than 3.2 per cent rate registered in February 2012.

According to The BBC, analysts said the data might prompt the central bank to hold back on monetary policy easing for now.

Wang Jin of Guotai Securities in Shanghai, said that 'the stronger-than-expected inflation could slow down the pace of monetary policy relaxing, although the basic direction of policy easing is intact'.

According to the report, Chinese Premier Wen Jiabao has cited inflation is one of the country's main economic worries and has set a target of four percent for 2012.

Chinese economy grew by 8.9 percent in the three months to the end of December from a year earlier, the slowest pace of growth in more than two years.

There have been speculations that the country's economic growth may slow even further amid a slowing demand for its exports from key markets such as the US and eurozone. (ANI)