China's CPI hit a 19-month high with a 3.1 percent year-on-year increase in May, surpassing the central government's targeted 3 percent annual inflation limit and ignited concerns about China's loosing control of its inflation.

In response to the high number, China's National Development and Reform Commission (NDRC) quickly realeased its estimation for the first half to be around 2.6 percent on Saturday, one day after China's official release of its May CPI.

On May 18, the NCDR estimated the first half CPI increase to be 2.5-percent CPI.