China's average inflation is likely to accelerate to 6.2 percent in the third quarter from 5.7 percent in the second quarter, reports said citing the latest forecast from the State Information Center (SIC).

The government agency warned that food price pressures may persist and urged China to take more measure to cool the economy as inflationary pressures are set to stay high.

Thailand's newly elected Prime Minister Yingluck Shinawatra has proposed a hike in farm prices of rice at the next harvest in November.

If implemented, the price hike would mean sustained high food price inflation in Thailand and in other Asian countries, ING economist Prakash Sakpal said. Thailand is the main exporter of rice to the region.

The SIC predicts China's economic growth to come in at 9.2 percent in the third quarter, compared to 9.5 percent in the second quarter.

RTTNews