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: 日韩av一中美av一中文字慕| 波多野结衣中文字幕在线视频| 国产成人无码免费视频97 | 亚洲国产精品一区二区久| 福利在线一区二区| 啊轻点灬大ji巴太粗太长了视| 青青青视频免费| 国产护士一级毛片高清| 2020年亚洲天天爽天天噜| 在线免费黄色网址| h无遮挡男女激烈动态图| 怡红院av一区二区三区| 中文字幕第三页| 日本欧美视频在线观看| 亚洲1区1区3区4区产品乱码芒果| 欧美性生恔XXXXXDDDD| 亚洲欧美日韩综合久久久久| 狠狠躁夜夜躁人人爽天天古典| 动漫痴汉电车1~6集在线| 美女视频内衣脱空一净二净| 国产不卡在线看| 青苹果乐园影视免费观看电视剧hd| 国产成人无码av| 日本尤物精品视频在线看| 国产精品成人亚洲| 538视频在线观看| 国产韩国精品一区二区三区| 999久久久无码国产精品| 大尺度视频网站久久久久久久久| videos性欧美| 好吊视频一区二区三区| 一级淫片免费看| 成人免费一区二区三区在线观看| 中文字幕日产每天更新40| 日本免费人成视频播放| 国产亚洲av综合人人澡精品| 国产挤奶水主播在线播放| 国产欧美在线观看视频| chinesefree国语对白| 嫩草伊人久久精品少妇av| 两个人看的www日本动漫|