China's inflation slows in Jan.

0 Comment(s)Print E-mail Xinhua, February 8, 2013
Adjust font size:

China's annual consumer inflation for January eased from a seven-month high in December despite rising food prices, data from the National Bureau of Statistics (NBS) showed Friday.

China will establish national-grade agricultural markets in production regions in 2013. [File Photo]

The consumer price index (CPI), a main gauge of inflation, grew 2 percent year on year in January, according to the NBS.

On a month-on-month basis, January's CPI rose 1 percent from the previous month, according to the NBS statement.

The month-on-month growth rate marked an 11-month high, as a cold winter and holiday demand have significantly pushed up vegetable and meat prices, said Yu Qiumei, a senior statistician with the bureau.

China is experiencing an unusually cold winter. Persistent icy weather in south China and lingering smog in north China have disrupted traffic and affected agricultural production, Yu said.

Food prices, which account for one-third of the prices used to calculate the CPI, rose 2.9 percent in January from one year earlier, pushing the index up 0.95 percentage points, according to the NBS.

However, January's CPI data was benign year-on-year partly because of the base effect. The year-ago comparison figure was high, as the Spring Festival holiday fell in January last year and pushed up food prices for that month.

The base effect contributed 1 percentage point to January's CPI growth year on year, the NBS said.

However, analysts say price pressure will build in the coming months.

The downward trend in January will be temporary. The country's inflation will pick up steam in February, with the growth rate accelerating to 2.7 to 2.9 percent, the China International Capital Corporation (CICC) said in a report.

The company's view was backed by Tang Jianwei, senior analyst at the financial research center under the Bank of Communications.

China's inflation will enter a preliminary upward phase in 2013, Tang said.

The country's economy has been steadily recovering and resurgent demand will drive up prices. Pork prices, which have a significant influence on the CPI, will regain momentum in 2013, he said.

Monetary quantitative easing implemented in the United States, Europe and Japan, together with China's rising labor and land costs, will all affect the country's inflation this year, Tang added.

Given the inflationary pressure, authorities will have to stabilize their monetary policy and adopt a more active fiscal policy in order to prop up growth without inflating prices, according to Wang Jun, an economist at the China Center for International Economic Exchanges.

Wang ruled out possible tightening of the monetary policy, as the foundation for the current economic rebound is not solid.

China's central bank on Wednesday warned of inflationary risks in its quarterly monetary policy report, saying that the influence of rebounding demand, labor supply changes and global monetary easing on prices must be watched closely.

The central bank has resorted to open market operations, a more cautious monetary tool, to improve the cash flow since August 2012. Interest rates and banks' reserve requirement ratio were both cut twice last year to shore up growth.

Growth in the world's second-largest economy dropped below 8 percent for the first time since 1999 last year amid an external downturn and domestic tightening measures intended to tame inflation.

 

Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    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: 精品无码国产自产在线观看水浒传 | 中国一级特黄特色**毛片| 曰批全过程免费视频免费看 | 国产精品午夜爆乳美女视频| a毛片全部免费播放| 性放荡日记高h| 久99久精品免费视频热77| 日韩人妻精品一区二区三区视频| 亚洲一卡2卡4卡5卡6卡残暴在线| 欧美最猛黑人xxxx黑人猛交| 亚洲视频欧洲视频| 99国产精品欧美一区二区三区| 成人免费观看视频高清视频| 久久久久久亚洲精品中文字幕| 欧美精品v国产精品v日韩精品| 国产中文在线视频| 黄色三级在线播放| 国产欧美va欧美va香蕉在| mm1313亚洲精品无码又大又粗| 成人无码午夜在线观看| 久久久香蕉视频| 日本边添边摸边做边爱边视频| 久草新在线观看| 最近免费中文字幕大全免费版视频| 亚洲人成网7777777国产| 欧美成人亚洲欧美成人| 亚洲欧洲日产v特级毛片| 欧美黑人巨大videos精品| 啦啦啦www免费视频| 亚洲武侠欧美自拍校园| 国产精品无码久久av| 69无人区卡一卡二卡| 少妇人妻综合久久中文字幕| 中文字幕亚洲不卡在线亚瑟| 欧美18videos极品massage| 俄罗斯激情女同互慰在线| 精品国产午夜理论片不卡| 午夜精品一区二区三区在线观看 | 日韩在线一区二区三区免费视频| 九九热中文字幕| 明星造梦一区二区|