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March 22, 2010

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CPI Seen At Around 3% This Year

CHINA would be able to keep its consumer price index at around 3 percent this year despite fears of high inflation, a senior economist said on Saturday.

"China's grain output totaled 1.02 trillion kilograms last year, representing the sixth straight year of good harvest, which serves as an important stabilizer for prices," Yao Jingyuan, chief economist of the National Bureau of Statistics, said.

Overcapacity would also prevent prices from rising sharply and quickly, Yao said.

But he also warned of a price rise as the country relied on the global market for commodities such as iron ores and oil.


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