Economists around the world have said that China could not expand at its current pace, with both imports and exports rising over 40% last month, without creating inflation. New data from the People's Republic has proved them right. The National Bureau of Statistics reported that consumer prices rose 2.7% in February. According to Bloomberg, that's the highest level in 16 months. Earlier, the government reported that industrial production was up over 20% during the first two months of the year, and on March 10th, China released its extraordinary import and export numbers.