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Faster inflation rate feared for August
By Wang Yanlin |
September 4, 2012, Tuesday
|
Online Edition
Online Edition
CHINA'S inflation rate is picking up again and may exceed 2 percent in August, analysts estimated ahead of the much-watched economic data for August to be released this weekend.
This may further complicate economic policy decisions and hold up the process of announcing additional stimulus measures to support growth, analysts said.
The Consumer Price Index, the main gauge of inflation, may reach 1.9 percent to 2.1 percent in August, from 1.8 percent in July, some economists predicted, based on the recent surge in corn and other food prices in the US and other overseas markets.
Tang Jianwei, an analyst at the Bank of Communications, said consumer prices may even rebound to about 2.3 percent as food costs climb quickly.
Data from the Ministry of Commerce showed vegetable prices in the first three weeks of August leaped 14.9 percent from a month earlier, and the prices of meat, eggs and edible oil also rose rapidly.
Tang also cited natural disasters in recent months as a cause for higher food costs, and factors like faster wage increase and more liquidity for contributing to inflationary pressure.
In its recent policy report, the central bank said it expected the country's inflationary pressure to grow significantly after August.
Huang Yiping, a Barclays economist, said the rebounding inflation may complicate the already delayed process of launching more supportive policies.
This may further complicate economic policy decisions and hold up the process of announcing additional stimulus measures to support growth, analysts said.
The Consumer Price Index, the main gauge of inflation, may reach 1.9 percent to 2.1 percent in August, from 1.8 percent in July, some economists predicted, based on the recent surge in corn and other food prices in the US and other overseas markets.
Tang Jianwei, an analyst at the Bank of Communications, said consumer prices may even rebound to about 2.3 percent as food costs climb quickly.
Data from the Ministry of Commerce showed vegetable prices in the first three weeks of August leaped 14.9 percent from a month earlier, and the prices of meat, eggs and edible oil also rose rapidly.
Tang also cited natural disasters in recent months as a cause for higher food costs, and factors like faster wage increase and more liquidity for contributing to inflationary pressure.
In its recent policy report, the central bank said it expected the country's inflationary pressure to grow significantly after August.
Huang Yiping, a Barclays economist, said the rebounding inflation may complicate the already delayed process of launching more supportive policies.
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