Related News
China's April inflation exceeds forecast at 5.3%
By Wang Yanlin |
May 11, 2011, Wednesday
|
Online Edition
Online Edition
CHINA'S inflation rate last month posted the first month-on-month drop this year as tightening policies took effect. However, the price growth was faster than the government's yearly target for a fourth month.
The Consumer Price Index, the main gauge of inflation, rose 5.3 percent from a year earlier in April, down 0.1 percentage point from the level in March, which was a 32-month high, the National Bureau of Statistics said today.
Food costs, the biggest constituent in the CPI basket, increased 11.5 percent year-on-year last month, compared with the growth of 11.7 percent in March, contributing to an easing CPI rise.
"The government's tightening efforts are starting to slow inflation," said Matthew Circosta, an economist at the Moody's Analytics. "But it was only ever so slightly."
Indeed, the rate in April was higher than the market forecast of around 5 percent, and dwarfed the government yearly target of 4 percent.
Growth of consumer prices in the first four months stood at 5.1 percent, the bureau said. To contain rising prices, China has lifted the benchmark interest rates twice this year, together with four reserve requirement ratio increases to soak up market liquidity.
The Consumer Price Index, the main gauge of inflation, rose 5.3 percent from a year earlier in April, down 0.1 percentage point from the level in March, which was a 32-month high, the National Bureau of Statistics said today.
Food costs, the biggest constituent in the CPI basket, increased 11.5 percent year-on-year last month, compared with the growth of 11.7 percent in March, contributing to an easing CPI rise.
"The government's tightening efforts are starting to slow inflation," said Matthew Circosta, an economist at the Moody's Analytics. "But it was only ever so slightly."
Indeed, the rate in April was higher than the market forecast of around 5 percent, and dwarfed the government yearly target of 4 percent.
Growth of consumer prices in the first four months stood at 5.1 percent, the bureau said. To contain rising prices, China has lifted the benchmark interest rates twice this year, together with four reserve requirement ratio increases to soak up market liquidity.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
