Shanghai's inflation moderating
By Wang Yanlin |
November 15, 2011, Tuesday
|
Print Edition
Print Edition
SHANGHAI'S inflation growth moderated to a three-month low in October under tightened policies and a cooling economy.
The Consumer Price Index expanded 5.6 percent from a year earlier last month, down from 5.7 percent in September and becoming the weakest since July, the Shanghai Statistics Bureau said yesterday.
Food costs, which accounted for nearly a third of the total basket, jumped 10.9 percent year on year last month, easing from 11.8 percent in September.
"Lower food costs contributed most to constrain inflation," said Wang Zehua, an analyst at the bureau. "Inflation in Shanghai has exhibited a steady weakening trend, although it is still at a rather high level."
In the first 10 months of the year, consumer prices in Shanghai rose at an annual rate of 5.3 percent.
The city's inflation growth moderation was not as dramatic as that in the country as a whole. In October, China's consumer prices expanded 5.5 percent on an annual basis, down from September's 6.1 percent.
"Shanghai performs more steadily on the route to control inflation," said Li Maoyu, an analyst at Changjiang Securities Co.
Since the middle of last year, the city government has been striving to guarantee the supply of various products and has also strengthened supervision to prevent swindling, conspiring, price-fixing and hoarding.
The city has also carried out a set of policies, including streamlining distribution to lower costs, providing subsidies for producers to boost supply, and enhancing regulations to punish speculators who distort prices.
Cai Xuchu, chief economist at the bureau, has said the city's economic growth would continue to moderate but not show an abrupt slowdown.
The Consumer Price Index expanded 5.6 percent from a year earlier last month, down from 5.7 percent in September and becoming the weakest since July, the Shanghai Statistics Bureau said yesterday.
Food costs, which accounted for nearly a third of the total basket, jumped 10.9 percent year on year last month, easing from 11.8 percent in September.
"Lower food costs contributed most to constrain inflation," said Wang Zehua, an analyst at the bureau. "Inflation in Shanghai has exhibited a steady weakening trend, although it is still at a rather high level."
In the first 10 months of the year, consumer prices in Shanghai rose at an annual rate of 5.3 percent.
The city's inflation growth moderation was not as dramatic as that in the country as a whole. In October, China's consumer prices expanded 5.5 percent on an annual basis, down from September's 6.1 percent.
"Shanghai performs more steadily on the route to control inflation," said Li Maoyu, an analyst at Changjiang Securities Co.
Since the middle of last year, the city government has been striving to guarantee the supply of various products and has also strengthened supervision to prevent swindling, conspiring, price-fixing and hoarding.
The city has also carried out a set of policies, including streamlining distribution to lower costs, providing subsidies for producers to boost supply, and enhancing regulations to punish speculators who distort prices.
Cai Xuchu, chief economist at the bureau, has said the city's economic growth would continue to moderate but not show an abrupt slowdown.
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