The People's Bank of China (PBOC) said it would continue to implement a prudent monetary policy as inflationary pressures still remains high.

“Food cost is not likely to fall within a short period of time. The trend of commodity inflation is also spreading to other areas, which makes it more difficult for the overall prices to fall,” vice governor of the PBOC Ma Delun told Shanghai Securities Journal on Sunday.

The country's consumer price index, a main gauge of inflation, accelerated to a 37-month-high of 6.5 percent in July on rising food costs.

By Sun Yuanqing