China's consumer prices are beginning to stabilize and could bottom out at the end of the third quarter before rebounding, the central bank said yesterday in a report.

The report, released by the statistics department of the People's Bank of China, said that inflationary expectations were beginning to emerge and that inflationary pressures from imports were also building up.

"China's growth recovery in the second quarter had been stronger than expected, hitting 14.9 percent on an annualized, seasonally-adjusted basis," said the report.