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Consumer Price Index to increase 4 percent this year
www.chinanews.cn 2005-01-20 13:56:00
Chinanews, Jan. 19 - According to the latest research report put out by
the Price-Monitoring Center of the National Development and Reform
Commission, the rate of increase of China's Consumer Price Index (CPI)
this year would be around 4 percent.
The report mentioned mounting pressure this year to pass on manufacturing
cost increases to consumer prices. In the past three years, production
material prices rose cumulatively by 26.3 percent. This inflationary
tendency is still continuing and would strengthen the lagging influence
of this trend on the overall rise in price levels this year.
The report pointed out that policy-induced price adjustments of municipal
public service would obviously increase. This year, price increases in
this area would be distinctly higher than last year's and would be an
important reason for the rise in overall price level. The price increases
in International markets and the devaluation of the US dollar would
magnify the inflationary effect on China's imports. If oil prices
continue high or even go much higher, there will be new pressure on
China's price indexes.
The report also predicted that retail prices would rise about 2.5 percent
this year, while production material prices would keep on increasing,
though at a lower growth rate than that of last year.
E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax:
8610-68327649
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