China's high inflation rate may last until Q3: survey

China's high inflation rate could continue well until the second or third quarter of this year, according to a survey of 56 leading economists.

About 21 percent of the economists surveyed said the current high inflation rate may last until the third quarter, while 58 percent of them said that inflation could ease by the second quarter, the Beijing-based Economic Observer, a weekly newspaper, reported Sunday citing the survey it conducted.

Also, 58 percent of the economists said inflation would remain high in the first quarter after the consumer price index (CPI), the main gauge of inflation, soared to a 28-month high of 5.1 percent in November last year.

Economists from the China Jianyin Investment Securities said in the survey that inflation could well peak in June this year, at 6.3 percent, but the CPI would drop below 4 percent from October.

About 33 percent of the economists believe rising international commodity prices and increasing food prices at home will be the two major factors pushing the index higher, while 28 percent see excessive liquidity in the market as the main reason for the high inflation.