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Deflationary pressures that have dogged China's growth are showing signs of easing, according to the central bank.
The consumer price index (CPI), a key gauge of inflation, reversed a downward spiral in the first three months, the People'sBank of China (PBOC) said in its first-quarter monetary policy report released Wednesday.
"This likely signals that our economy has shaken off the trend of a nearly two-year-old price slump," the China Daily quoted the report as saying.
The central bank predicted a CPI rise between one and two percent for the whole year.
(Xinhua News Agency May 15, 2003)
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