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December may see inflation rate drop to 4%
By Wang Yanlin |
January 6, 2012, Friday
|
Online Edition
Online Edition
CHINA'S inflation rate may finally meet the government target of 4 percent in the last month of 2011. Some analysts estimate the country's Consumer Price Index in December to grow 4 percent year-on-year, a drop from November's 4.2 percent, which was a 14-month low.
The National Bureau of Statistics is scheduled to release the data next week.
The government set the target of controlling inflation under 4 percent at the beginning of last year, but missed the target each month from January to November.
In the first 11 months, China's inflation expanded 5.5 percent year-on-year and hitting a 37-month high of 6.5 percent in July.
"Thanks to less expensive food and a higher comparative base, inflation growth may continue to moderate in December," said Tang Jianwei, an analyst at the Bank of Communications, who predicted a rate of 4 percent.
Guotai Junan Securities Co said in a note that it also projected an inflation rate of 4 percent. But other financial institutions, including Industrial Bank, China International Capital Corp Ltd and Everbright Securities Co, said December's inflation may remain at 4.2 percent because of growing market demand in the run-up to New Year's Day and the Spring Festival.
The subdued inflation pressure led economists to anticipate further policy easing although the government decided to keep a prudent monetary policy this year.
The National Bureau of Statistics is scheduled to release the data next week.
The government set the target of controlling inflation under 4 percent at the beginning of last year, but missed the target each month from January to November.
In the first 11 months, China's inflation expanded 5.5 percent year-on-year and hitting a 37-month high of 6.5 percent in July.
"Thanks to less expensive food and a higher comparative base, inflation growth may continue to moderate in December," said Tang Jianwei, an analyst at the Bank of Communications, who predicted a rate of 4 percent.
Guotai Junan Securities Co said in a note that it also projected an inflation rate of 4 percent. But other financial institutions, including Industrial Bank, China International Capital Corp Ltd and Everbright Securities Co, said December's inflation may remain at 4.2 percent because of growing market demand in the run-up to New Year's Day and the Spring Festival.
The subdued inflation pressure led economists to anticipate further policy easing although the government decided to keep a prudent monetary policy this year.
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