China can contain inflation, says economist

0 CommentsPrint E-mail Shanghai Daily, May 12, 2010
Adjust font size:

It will be difficult but China can contain inflation within 3 percent this year, a senior government official said yesterday.

Yao Jingyuan, chief economist at the National Bureau of Statistics, predicted that consumer prices will continue to break records in the next three months due to surging food costs.

"We should be alert to price increases in some particular products that will affect the overall inflationary trend, like surging pork prices did in 2006," Yao said. "It will be difficult to achieve this year's target of a 3 percent increase in consumer prices, but it can be achieved."

The Consumer Price Index, the main gauge of inflation, expanded 2.8 percent in April from a year earlier, the fastest pace in 18 months.

The Producer Price Index, the factory-gate measurement of inflation, climbed to a 19-month high of 6.8 percent in April.

Bureau spokesman Sheng Laiyun said inflation was still structural, meaning it was limited to certain categories, not an overall, uncontrollable price jump.

In April, food costs rocketed 5.9 percent from a year ago due to smaller harvests after natural disasters hit southwest China and abnormal weather prevailed around the country. Prices of vegetables soared 24.9 percent during the period, the bureau said.

The non-food sector, on the other hand, only registered a mild growth of 1.3 percent.

"Rising inflation is a serious problem, but where the CPI is heading is more important than this figure of 2.8 percent," said Tao Dong, an economist with Credit Suisse.

The State Information Center, a unit under the National Development and Reform Commission, also said the inflationary pressure will increase in the next few months. It predicted in a report last week that China's consumer prices will jump 4.2 percent in the second quarter while producer prices may surge 7 percent from a year earlier in the period.

In the first four months, China's CPI gained 2.4 percent and PPI 5.6 percent, increasing pressure on the government to achieve the 3 percent target set at the year's beginning.

China has gradually normalized its monetary policy stance after loose credit flooded the market with cash last year.

The People's Bank of China, the central bank, has raised the reserve requirement ratio three times this year and stepped up drainage of cash via open market operation.

Print E-mail Bookmark and Share

Go to Forum >>0 Comments

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter
主站蜘蛛池模板: www.av网| 久久大香香蕉国产免费网站| 疯狂七十二小时打扑克| 国产乱码精品一区二区三区中文| 亚洲六月丁香婷婷综合| 国模gogo中国人体私拍视频| jazzjazz国产精品| 尹人久久久香蕉精品| 中文字幕无码不卡免费视频| 日韩中文字幕在线观看| 亚洲av福利天堂一区二区三| 欧美日韩亚洲国产精品一区二区 | 无码精品久久久久久人妻中字| 亚洲AV无码成人专区| 欧美成人鲁丝片在线观看| 亚洲欧美黄色片| 烈血黄昏中视频| 俺来也俺去啦久久综合网| 福利小视频在线观看| 午夜男女爽爽影院网站| 老师开嫩苞在线观看| 国产乱子伦露脸在线| 麻豆免费高清完整版视频| 国产无遮挡又黄又爽高潮| 亚洲香蕉在线观看| 国产精品亚洲综合一区在线观看 | 国产又色又爽又黄的| 黄色网页免费观看| 国产无套露脸大学生视频| 日本中文字幕在线精品| 国产粉嫩粉嫩的18在线播放91| 2019中文字幕在线视频| 国产精品视频无圣光一区| 91福利精品老师国产自产在线| 国模精品一区二区三区| 97色伦图片97综合影院| 在线视频欧美日韩| 99日精品欧美国产| 在线成人播放毛片| 91福利视频网| 国产精品看高国产精品不卡|