Mild 2%-2.5% inflation in Q1
Source: Xinhua |
March 25, 2010, Thursday
|
Print Edition
Print Edition
CHINA'S year-on-year inflation rate is seen between 2 and 2.5 percent in the first quarter of this year, according to the country's top economic planner.
The Consumer Price Index, a main gauge of inflation, would see a "moderate increase" in the first quarter, the National Development and Reform Commission said in a statement on its Website.
China's CPI rose 2.7 percent from a year earlier in February, according to data from the National Bureau of Statistics.
Food prices would begin to fall as the weather got warmer, said the statement.
In February, food prices rose 6.2 percent from the previous year due to the Spring Festival holiday and poor weather.
The Spring Festival is the most important traditional festival in China for family reunion.
People usually spend a lot on food, alcohol, cigarettes and gifts during the period.
The February CPI was within normal range, compared with the Spring Festival months in previous years, said Zhou Wangjun, deputy director of the Department of Prices of the NDRC.
However, Zhou warned there were still uncertainties in the price trend, including fluctuations in global commodities prices.
China targets a consumer price rise of 3 percent this year, according to a government work report delivered by Premier Wen Jiabao at the opening of the annual session of the National People's Congress earlier this month.
The Consumer Price Index, a main gauge of inflation, would see a "moderate increase" in the first quarter, the National Development and Reform Commission said in a statement on its Website.
China's CPI rose 2.7 percent from a year earlier in February, according to data from the National Bureau of Statistics.
Food prices would begin to fall as the weather got warmer, said the statement.
In February, food prices rose 6.2 percent from the previous year due to the Spring Festival holiday and poor weather.
The Spring Festival is the most important traditional festival in China for family reunion.
People usually spend a lot on food, alcohol, cigarettes and gifts during the period.
The February CPI was within normal range, compared with the Spring Festival months in previous years, said Zhou Wangjun, deputy director of the Department of Prices of the NDRC.
However, Zhou warned there were still uncertainties in the price trend, including fluctuations in global commodities prices.
China targets a consumer price rise of 3 percent this year, according to a government work report delivered by Premier Wen Jiabao at the opening of the annual session of the National People's Congress earlier this month.
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