China inflation hits 34-month high in May, rate rise seen

China's inflation accelerated in May to a 34-month high of 5.5 percent, supporting the case for a tightening in monetary policy as soon as this month even as there are signs that economic growth is slowing down.

http://www.reuters.com/article/2011/06/14/us-china-economy-inflation-idUSTRE75C5L020110614