Warning sounded on inflation
Source: Xinhua |
January 17, 2012, Tuesday
|
Print Edition
Print Edition
CHINA'S top statistician Ma Jiantang yesterday forecast lasting pressure from price increases, warning that any policy fine-tuning should help stabilize inflation.
Ma, head of the National Bureau of Statistics, made the remarks in an article published in "Seeking Truth," the flagship magazine of the Communist Party of China.
"China is still facing problems impeding its steady and rapid economic growth in the mid and long terms," Ma wrote.
The statistics bureau produces China's key macro-economic data, including the gross domestic product and the Consumer Price Index, the benchmark gauges of economic growth and inflation.
Ma said prices are driven by rising costs of labor, land and resources, while the global market remains flooded with excessive liquidity that has long kept prices high.
CPI growth eased to 4.1 percent year on year in December, sealing inflation at 5.4 percent for 2011, far above the 4 percent target.
Ma, head of the National Bureau of Statistics, made the remarks in an article published in "Seeking Truth," the flagship magazine of the Communist Party of China.
"China is still facing problems impeding its steady and rapid economic growth in the mid and long terms," Ma wrote.
The statistics bureau produces China's key macro-economic data, including the gross domestic product and the Consumer Price Index, the benchmark gauges of economic growth and inflation.
Ma said prices are driven by rising costs of labor, land and resources, while the global market remains flooded with excessive liquidity that has long kept prices high.
CPI growth eased to 4.1 percent year on year in December, sealing inflation at 5.4 percent for 2011, far above the 4 percent target.
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