China's CPI growth rate to be higher in Oct.

14:11, October 25, 2010      

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The growth rate of China's CPI in October will be higher than in September, and China's CPI will gradually decline after December because of the carryover effect, according to Yao Jingyuan, chief economist of the National Bureau of Statistics.

The growth rate of China's CPI in 2010 will be controlled within 3 percent and the growth rate of China's GDP will stay around 10 percent, Yao said during the "2010 China State-owned Economic Development Forum" on Oct. 23.

Yao said the key to price stability is the price of food and housing. He pointed out that the autumn harvest that accounts for more than 75 percent of China's grain output has laid the foundation for price stability and will alleviate the growth of China's CPI in the next two or three months. In addition, the state macro-control policies on housing prices are still vigorously promoted.

Yao said that China's food prices from January to September witnessed an increase of 8 percent and this is not a high figure in the international market. However, the growth of food prices will have a greater impact on low-income groups. Therefore, related departments need to pay more attention to this problem.

By People's Daily Online


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