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The People's Bank of China (PBOC), the Chinese central bank, reiterated on Thursday through a statement posted on its website that it would give higher priority to stabilizing prices in 2011, by making its micro-control policies more targeted, and effectively manage liquidity to bring the monetary conditions for price hikes under control.
China had twice raised its interest rate late last year, and increased the bank reserve required ratio to a record 18.5 percent.
The Republic of Korea also pledged on Thursday to make efforts "on all fronts" to stem inflationary pressure. The country's central bank has set its inflation target for the 2010-2012 period at between 2 percent and 4 percent, and raised its key interest rate twice last year from a record-low 2 percent to 2.5 percent.
Other emerging economies, such as Brazil and Indonesia, are also registering above average inflation rates.
Brazil announced on Friday that its inflation rate reached 5.91 percent in 2010, the highest in six years, while Indonesia saw an inflation rate of 6.96 percent in 2010, beyond the government's target of 5.3 percent.