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Shanghai CPI up 4.3% in January, under national rate
By Wang Yanlin |
February 16, 2011, Wednesday
|
Online Edition
Online Edition
CONSUMER prices in Shanghai moderated unexpectedly in January, dropping below the national average of 4.9 percent, the Shanghai Statistics Bureau said today.
The city's consumer price index, the main gauge of inflation, expanded 4.3 percent from a year earlier last month but contracted from December's 4.5 percent.
The local CPI basket was adjusted this year to reduce the weight of food and increase the weight of housing costs in addition to other small changes.
Wang Zehua, an analyst at the bureau, said the moderation did not point to diminishing presure of inflation, and it was still an arduous task to put inflation under control.
"The city government has made great efforts to stabilize supply, especially before the Spring Festival holiday. That's why consumer prices were well controlled," Wang said.
Food prices, still a major CPI component after the adjustment, jumped 10.1 percent year-on-year in January, faster than last year's average of 7.7 percent but lower than the nation's 10.3 percent.
The city's consumer price index, the main gauge of inflation, expanded 4.3 percent from a year earlier last month but contracted from December's 4.5 percent.
The local CPI basket was adjusted this year to reduce the weight of food and increase the weight of housing costs in addition to other small changes.
Wang Zehua, an analyst at the bureau, said the moderation did not point to diminishing presure of inflation, and it was still an arduous task to put inflation under control.
"The city government has made great efforts to stabilize supply, especially before the Spring Festival holiday. That's why consumer prices were well controlled," Wang said.
Food prices, still a major CPI component after the adjustment, jumped 10.1 percent year-on-year in January, faster than last year's average of 7.7 percent but lower than the nation's 10.3 percent.
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