Faster rise in food costs may lift CPI
By Wang Yanlin |
January 27, 2011, Thursday
|
Print Edition
Print Edition
CHINA'S inflation may pick up again in January on a faster rise in food prices as the Spring Festival nears, analysts said yesterday.
The Consumer Price Index, the main gauge of inflation, is likely to climb above 5 percent again this month, said Li Maoyu, an economist at Changjiang Securities Co.
"Frequent natural disasters in recent months have led to a higher increase in food prices at this particular time when the Spring Festival is drawing close and demand gets a lift," Li said. "Even if government measures are well implemented, a higher inflation rate may be unavoidable."
His view was echoed by Matt Robinson, a senior economist at Moody's Analytics, who suggested a need to bolster supply to address structural food price inflation.
"Investment, improved techniques, upgraded distribution chains and the removal of bottlenecks will be imperative to rein in food price inflation," Robinson said.
China's Ministry of Commerce reported prices of 18 vegetables rose 12.6 percent on an annual basis last week, up 6.5 percentage points from a week earlier.
The Consumer Price Index, the main gauge of inflation, is likely to climb above 5 percent again this month, said Li Maoyu, an economist at Changjiang Securities Co.
"Frequent natural disasters in recent months have led to a higher increase in food prices at this particular time when the Spring Festival is drawing close and demand gets a lift," Li said. "Even if government measures are well implemented, a higher inflation rate may be unavoidable."
His view was echoed by Matt Robinson, a senior economist at Moody's Analytics, who suggested a need to bolster supply to address structural food price inflation.
"Investment, improved techniques, upgraded distribution chains and the removal of bottlenecks will be imperative to rein in food price inflation," Robinson said.
China's Ministry of Commerce reported prices of 18 vegetables rose 12.6 percent on an annual basis last week, up 6.5 percentage points from a week earlier.
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