China may revise CPI goal upwards to 4%
By Wang Yanlin |
October 15, 2010, Friday
|
Print Edition
Print Edition
THE Chinese Academy of Social Sciences warned that China may have to raise its annual inflation target just a week before September data are expected to show consumer prices at a two-year high.
The academy, in a report, suggested the government may have to revise its inflation target for the year to 4 percent from 3 percent.
China's consumer price index, due to be released next Thursday, is expected to show costs of grain, rice and other foods leading the indicator higher by between 3.4 percent and 3.9 percent for September.
"Rising food costs are a main source of higher consumer prices," said Li Maoyu, an analyst at Changjiang Securities Co. "With residential energy prices set to rise, inflationary pressure may remain longer than expected."
Li is forecasting a September CPI of 3.5 percent, unchanged from August.
Other economists are predicting inflation as high as 3.9 percent.
Bank of Communications said prices may increase as much as 3.7 percent from a year earlier, hitting a two-year high.
Consumer prices in China rose at the fastest pace in 22 months in August, compared with advances of 3.3 percent in July and 2.9 percent in June.
The academy said a higher inflation target would allow more farm incomes, help soak up excess liquidity and alleviate pressure for the appreciation of the yuan.
The academy, in a report, suggested the government may have to revise its inflation target for the year to 4 percent from 3 percent.
China's consumer price index, due to be released next Thursday, is expected to show costs of grain, rice and other foods leading the indicator higher by between 3.4 percent and 3.9 percent for September.
"Rising food costs are a main source of higher consumer prices," said Li Maoyu, an analyst at Changjiang Securities Co. "With residential energy prices set to rise, inflationary pressure may remain longer than expected."
Li is forecasting a September CPI of 3.5 percent, unchanged from August.
Other economists are predicting inflation as high as 3.9 percent.
Bank of Communications said prices may increase as much as 3.7 percent from a year earlier, hitting a two-year high.
Consumer prices in China rose at the fastest pace in 22 months in August, compared with advances of 3.3 percent in July and 2.9 percent in June.
The academy said a higher inflation target would allow more farm incomes, help soak up excess liquidity and alleviate pressure for the appreciation of the yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
