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: xx00动态图| xxxx日本在线播放免费不卡| 欧美在线暴力性xxxx| 伊人久久大香线蕉综合网站| 色依依视频视频在线观看| 国产成人一区二区动漫精品| 尤物视频www| 国内精品久久久久伊人av| z0z0z0女人极品另类视频| 成人看片app| 久久久久99精品国产片| 日韩精品武藤兰视频在线| 亚洲另类激情专区小说图片| 欧美色欧美亚洲高清在线视频| 任你躁在线精品免费| 精品久久久久久无码人妻| 国产一级理论免费版| 黄色软件下载免费观看| 国产激情视频在线播放| 无遮挡1000部拍拍拍免费凤凰| 国产网站在线免费观看| 99精品久久久中文字幕| 女老丝袜脚摩擦阳茎视频| 一级黄色大毛片| 成年美女黄网站色大片免费看| 国产99视频免费精品是看6| 黄色一级片毛片| 国产日韩综合一区二区性色av| 日日碰狠狠添天天爽爽爽| 国内一级一级毛片a免费| jlzz奶水太多奶水太多| 嫩草影院在线入口| 中国人免费观看高清在线观看二区| 无码办公室丝袜OL中文字幕| 久久亚洲精品无码gv| 日本道精品一区二区三区| 久久香蕉国产线看免费| 日韩高清一级毛片| 久久这里只有精品66| 最新eeuss第141页| 亚洲AV色香蕉一区二区|