The continuous growth of investment, energy and raw materials prices would contribute to a more rapid inflation in the second half. As food and industrial products’ supply would be bigger than demand, China Securities Journal reported.   Xu Lianzhong, an expert with the price monitoring centre of the State Development and Reform Commission, estimated Consumer Price Index (CPI) would increase by 2 percent and the annual growth would be around 1.5 to 2 percent, as a result of rapid growth of investment and energy prices.   Song Guoqing, a professor with the economic research institute of Peking Unviersity estimated a CPI jump of 3 percent next year.   Li Huiyong, an analyst with the research centre of Shenyin and Wanguo Securities, said that four major factors contribute to a widened inflation is expected in the second half. First, on the one hand, the government has imposed strict supervision over the pricing of public services to suppress inflation and these suppressed factors would be released; Second, since the government would strengthen reforms on such natural resources as water, electricity, oil and natural gas in the second half which would in turn directly or indirectly affect CPI; Third, national consumption rate is on the rise and this will accelerate the growth of prices; Fourth, the rising prices of raw materials increase operation cost of industrial and corporate production which will transfer the cost to the consumers.   Li further pointed out that the excessive capital flow on the market is far larger than demand especially in the forms of services, resources and asset prices. This will lead to stable consumption but rising prices of resources and asset.   Since currency supply would accelerate with the growth of credit loan, excessive fluidity would help realize an inflation of 4 percent in the second half.