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China CPI growth slows to 1.9% in September
By Wang Yanlin |
October 15, 2012, Monday
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Online Edition
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CHINA'S inflation growth moderated again in September and analysts say there is less possibility for the central government to adopt aggressive easing policies within the year.
The Consumer Price Index, a main gauge of inflation, expanded 1.9 percent from a year earlier last month, as compared with a 2 percent climb in August and a 1.8 percent rise in July, the National Bureau of Statistics said today.
Food prices, which weigh more than one third of the CPI basket, grew 2.5 percent last month, much less than the 3.4 percent gain in August. Costs of non-food sectors went up 1.7 percent from 1.4 percent a month earlier.
The Producer Price Index, a factory-gate measurement of inflation, fell 3.6 percent year on year in September, signaling a downward trend in consumer prices.
"Inflation may stabilize on the current level for a while," said Lian Ping, chief economist at the Bank of Communications. "The government is within reach of this year's target of controlling inflation under 4 percent."
In the first three quarters, China's inflation climbed 2.8 percent from a year earlier, the bureau's data showed.
Lian said there is diminishing possibility for China to roll out aggressive easing policies as the country grew accustomed to slower growth and there have been signs of recovery recently.
China's exports grew 9.9 percent on an annual basis in September, a strong rebound, thanks to a numerous factors including better Christmas orders, a low base effect, and a wider coverage of government's export tax rebate policy. It raised the hope of a soft landing in the fourth quarter, analysts said.
Yi Gang, vice governor of the People's Bank of China, said this weekend that China is able to secure an economic growth of around 7.8 percent this year, higher than the government target of 7.5 percent.
Yi also warned that excessive monetary easing by major economies would put inflationary pressure on China as it strives to boost growth and keep prices under control.
China's gross domestic product expanded 7.6 percent annually in the second quarter, the slowest pace in three years. The third-quarter growth, to be released this Thursday, is expected to as low as 7.3 percent.
The Consumer Price Index, a main gauge of inflation, expanded 1.9 percent from a year earlier last month, as compared with a 2 percent climb in August and a 1.8 percent rise in July, the National Bureau of Statistics said today.
Food prices, which weigh more than one third of the CPI basket, grew 2.5 percent last month, much less than the 3.4 percent gain in August. Costs of non-food sectors went up 1.7 percent from 1.4 percent a month earlier.
The Producer Price Index, a factory-gate measurement of inflation, fell 3.6 percent year on year in September, signaling a downward trend in consumer prices.
"Inflation may stabilize on the current level for a while," said Lian Ping, chief economist at the Bank of Communications. "The government is within reach of this year's target of controlling inflation under 4 percent."
In the first three quarters, China's inflation climbed 2.8 percent from a year earlier, the bureau's data showed.
Lian said there is diminishing possibility for China to roll out aggressive easing policies as the country grew accustomed to slower growth and there have been signs of recovery recently.
China's exports grew 9.9 percent on an annual basis in September, a strong rebound, thanks to a numerous factors including better Christmas orders, a low base effect, and a wider coverage of government's export tax rebate policy. It raised the hope of a soft landing in the fourth quarter, analysts said.
Yi Gang, vice governor of the People's Bank of China, said this weekend that China is able to secure an economic growth of around 7.8 percent this year, higher than the government target of 7.5 percent.
Yi also warned that excessive monetary easing by major economies would put inflationary pressure on China as it strives to boost growth and keep prices under control.
China's gross domestic product expanded 7.6 percent annually in the second quarter, the slowest pace in three years. The third-quarter growth, to be released this Thursday, is expected to as low as 7.3 percent.
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