Chinese economy expands 9.7% in Q1

Chinese economy expands 9.7 percent in first quarter 2011.

BEIJING -- China's economy expanded 9.7 percent in first quarter 2011 from a year earlier, and 2.1 percent from the previous quarter to 9,631.1 billion yuan ($1,459.3 billion), the National Bureau of Statistics (NBS) said Friday.

"The national economy had a good beginning with steady and relatively fast growth," said Sheng Laiyun, spokesman of the NBS.

In the fourth quarter of 2010, the economy grew 9.8 percent year on year from 9.6 percent in the third quarter, after slowing down from 11.9 percent in the first quarter and 10.3 percent in the second.

Consumer inflation hits 32-month high, more rate hikes in sight

China's consumer price index (CPI), a main gauge of inflation, rose 5.4 percent in March from a year ago, a 32- month high, the nation's statistic agency said on Friday.

CPI stood at 5 percent for the first quarter, according to the National Bureau of Statistics (NBS).

Food prices surged 11 percent year-on-year.