Doing business in Asia, Japan, China, Hong Kong, Taiwan, South Korea, and Russia.

The Bank of China is making predictions for the Consumer Price Index (CPI).

Inflation is forecast at 7.5% or higher for last month. High food prices and the worst snow disaster in decades are blamed.

For the first six months of this year - 5-7% inflation.

The last six months of this year - 3-4%.

For the year - 4.8%.

GDP is expected to grow at 10%, less than the 11.4% for last year.

Grain prices are up 10% over last year. 

Soybean, corn and wheat are up from 7.5% to 25%.

China's CPI was 4.8% last year, 6.9% in November. Inflation was an 11-year high in 2007.

In the meantime, the economy goes huummminggg along. 

source