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August inflation 'to moderate'
By Wang Yanlin |
August 29, 2011, Monday
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Online Edition
CHINA'S inflation may have peaked in July with August consumer prices expected to moderate, analysts predicted today.
The Consumer Price Index, the main gauge of inflation, is expected to have grown between 5.9 percent and 6.2 percent annually this month – slower than the 6.5 percent growth in July, which was a 37-month high.
Lu Zhengwei, chief economist at the Industrial Bank, said the moderation were because ofslower food inflation. Lu forecast CPI growth of 6.1 percent for August.
"The market is jittery about inflation that has been losing strength as measures to curb price growth are starting to take effect," Lu said. "Unless some unexpected accidents happen, July's inflation data will be the peak for this year."
A note by the research unit at the Industrial and Commercial Bank of China said consumer prices could possibly jump 6 percent annually this month, supported by the unabated imported inflationary pressure.
Essence Securities Co even anticipated that August inflation growth may fall to 5.9 percent as the month-on-month increase of food costs are likely to be negative this month.
However, pork prices, which "kidnapped" July's inflation rate, showed signs of a possible rebound in the week before last. According to the Ministry of Commerce, pig prices rose 0.1 percent between August 15 and August 21 from a week earlier, and left analysts with some uncertainties.
The Consumer Price Index, the main gauge of inflation, is expected to have grown between 5.9 percent and 6.2 percent annually this month – slower than the 6.5 percent growth in July, which was a 37-month high.
Lu Zhengwei, chief economist at the Industrial Bank, said the moderation were because ofslower food inflation. Lu forecast CPI growth of 6.1 percent for August.
"The market is jittery about inflation that has been losing strength as measures to curb price growth are starting to take effect," Lu said. "Unless some unexpected accidents happen, July's inflation data will be the peak for this year."
A note by the research unit at the Industrial and Commercial Bank of China said consumer prices could possibly jump 6 percent annually this month, supported by the unabated imported inflationary pressure.
Essence Securities Co even anticipated that August inflation growth may fall to 5.9 percent as the month-on-month increase of food costs are likely to be negative this month.
However, pork prices, which "kidnapped" July's inflation rate, showed signs of a possible rebound in the week before last. According to the Ministry of Commerce, pig prices rose 0.1 percent between August 15 and August 21 from a week earlier, and left analysts with some uncertainties.
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