China's September CPI up 3.6%, a 23-month high

15:11, October 21, 2010      

Email | Print | Subscribe | Comments | Forum 

A resident purchases rice in a farm products market in Hangzhou, capital of east China's Zhejiang Province, Oct. 21, 2010. The consumer price index (CPI), China's main gauge of inflation, rose by a 23-month high of 3.6 percent in September from one year earlier, the National Bureau of Statistics (NBS) said Thursday. (Xinhua/Han Chuanhao)

Higher food prices pushed the consumer price index (CPI), China's main gauge of inflation, to a 23-month high of 3.6 percent in September, but officials said China could still achieve the 3-percent full-year inflation target.

On a month-on-month basis, China's CPI grew 0.6 percent in September from August, Sheng Laiyun, spokesman of the National Bureau of Statistics, said Thursday at a press conference.

Surging food prices because of "adverse natural conditions" was the major reason for accelerated CPI growth in September, Sheng said.

Food prices, which account for about one third of the weighting in calculating the CPI, climbed 8 percent year on year last month. The year-on-year growth rate of China's food prices picked up from 7.5 percent in August, 6.8 percent in July and 5.7 percent in June.

China's CPI rose 2.9 percent year on year in the first nine months of this year, approaching the government's target ceiling of around 3 percent for the year.

Although the current situation was challenging, it was still possible for China to achieve the annual target this year with proper regulation, Sheng said.

The People's Bank of China, the central bank, surprised the market Tuesday by its first interest rate rise in nearly three years. The country's one-year lending and deposit rate was raised by 25 basis points, effective from Wednesday.

The interest rate rise was a response to emerging problems in the national economy, Sheng said. "It will have a positive influence on enhancing liquidity management, curbing price increases, improving macroeconomic regulation and promoting economic structure adjustment."
【1】 【2】 【3】 【4】


  • Do you have anything to say?
  • Chinese Navy soldiers hold an evening party marking the upcoming 62nd National Day aboard Chinese Navy hospital ship "Peace Ark" in the Pacific on Sept. 28, 2011. The Chinese National Day falls on Oct. 1. (Xinhua/Zha Chunming)

  • Photo taken on Sept. 30, 2011 shows the crowd at the plaza of Beijing Railway Station in Beijing, capital of China. The railway transportation witnessed a travel peak with the approach of the seven-day National Day holidays on Friday. (Xinhua)
  • A man wearing high-heel shoes takes part in the 3rd annual Walk a Mile in Her Shoes, an event when men literally walk in women's shoes to raise awareness about ending violence against women, at Yonge-Dundas Square in Toronto, Canada, Sept. 29, 2011. (Xinhua/Zou Zheng)
  • Photo taken on Sept. 29, 2011 shows a cargo ship in danger on the sea near Zhuhai City, south China's Guangdong Province. Cargo ship Fangzhou 6 of Qingzhou of southwest China's Guangxi Zhuang Autonomous Region lost control after water stormed into its cabin due to Typhoon Nesat on the sea near Zhuhai Thursday, leaving 12 crew members in danger. Rescuers rushed to the ship and saved them by using a helicopter. (Xinhua)
  • Actress Gong Li poses for L'Officiel Magazine. (Xinhua Photo)

  • Demonstrators from the Occupy Wall Street campaign hold placards as they march in the financial district of New York September 29, 2011. After hundreds of protesters were denied access to some areas outside the New York Stock Exchange on September 17, demonstrators set up a rag-tag camp three blocks away. Zuccotti Park is a campground festooned with placards and anti-Wall Street slogans. The group is adding complaints of excessive police force against protesters and police treatment of ethnic minorities and Muslims to its grievances list, which includes bank bailouts, foreclosures and high unemployment. (Xinhua/Reuters Photo)