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Analysts predict June inflation around 2.4%
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INFLATION may have stabilized at around 2.4 percent in June due to small changes in food prices, analysts said before the release of data next week.
The Consumer Price Index, the main gauge of inflation, is likely to increase between 2.2 and 2.6 percent in June, according to predictions by several analysts.
"Considering food prices were stable, there should be no big movement in the CPI," said Tang Jianwei, an economist at Bank of Communications. He predicted the figure would be 2.4 percent.
"It will leave sufficient room for the government to roll out targeted measures to bolster growth," Tang added.
In May, consumer prices expanded 2.5 percent from a year earlier, a four-month high that compared with a 1.8 percent rise in April, according to the National Bureau of Statistics.
A low comparative base and higher food costs were cited as the main reasons for the rebound. Food costs increased 4.1 percent in May.
Wang Tao, an economist at UBS, also said food prices contributed to stabilizing inflation.
"It enables credit conditions to stay accommodative, with overall credit growth stabilizing," Wang said. "As such, we expect second-quarter gross domestic product growth to inch up to 7.5 percent year on year."
She added that with more easing measures underway and an ongoing recovery in exports, sequential growth momentum should warm up further in the third quarter.
China accelerated the release of its so-called "mini stimulus" package after economic growth moderated to an 18-month low of 7.4 percent in the first quarter.
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