Price surge in certain agricultural products has limited impact on China's CPI: official

08:06, May 31, 2010      

Email | Print | Subscribe | Comments | Forum 

Price surge in some agricultural products such as garlic and mung beans would have a limited impact on China's overall inflation, said Peng Sen, vice minister of the National Development and Reform Commission (NDRC), the national economic planner.

The consumer price index (CPI), major gauge of China's inflation, would not be much affected by the price surge because the consumption of these agricultural products was relatively low and demand flexible, Peng told Xinhua in an exclusive interview.

China's CPI rose 2.4 percent year on year in March and the growth for April accelerated to 2.8 percent, according to statistics from the National Bureau of Statistics.

China has seen sharp rises in prices of non-glutinous rice, corn, garlic, mung bean, vegetables and some traditional Chinese medicine since the end of last year, he said.

Peng attributed the price surge to adverse weather conditions and market speculation.

The speculative capital was picking up "new targets" after retreating from the country's securities and property markets in light of the volatile stock market and strengthened regulation to curb booming property prices, he said.

However, Peng said "China has the foundation to achieve the annual CPI target of about 3 percent for 2010" and the government would work to ensure the overall prices basically stable.

The NDRC has told local governments to step up efforts to strengthen market monitoring and clamp down on speculation activities.

Source: Xinhua


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • The world's first Boeing 787 Dreamliner for delivery arrives at Haneda airport in Tokyo, capital of Japan, on Sept. 28, 2011. The Boeing 787 Dreamliner, whose buyer is All Nippon Airways (ANA), will implement a flight of ANA on Oct. 26 from Tokyo's Narita Airport to Hong Kong in south China. (Xinhua/Ji Chunpeng)
  • A Libyan National Transitional Council (NTC) fighter shows what is believed to be human jawbone found inside a mass grave near Abu Salim prison in Tripoli, Libya, Spet. 27, 2011. The NTC on Sunday said they had found a mass grave containing the bodies of 1,270 people killed by Gaddafi's security forces in a 1996 massacre at Abu Salim prison in southern Tripoli. (Xinhua/Li Muzi)
  • Rescue workers and local residents search for survivors after a building collapsed in old Delhi, India, Sept. 27, 2011. At least 10 people were killed and 35 injured when an old three-storey building collapsed. More than a dozen people are still feared trapped under the debris, police said. (Xinhua/Partha Sarkar)
  • A visitor has flying experience in the windmill castle of Jinshitan National Holiday resort in Dalian, northeast China's Liaoning Province, Sept. 27, 2011. The castle is a 23-meter-high building with 21 meters in diameter. The castle uses wind tunnel to make objects floating in the air. It is the first indoor stadium in China, which enables people to have flying experience. (Xinhua/Zhang Chunlei)
  • Forces of the Libyan National Transitional Council (NTC) shoot shells to the fighters loyal to Muammar Gaddafi outside Bani Walid, Libya, Sept. 27, 2011. Bani Walid is still occupied by fighters loyal to Muammar Gaddafi. (Xinhua/Hamza Turkia)
  • Children present creations with guests during a charity show "Fashion Kids for Children in Crisis" at the Milan Fashion Week Women's Wear Spring/Summer 2012 in Milan, northern Italy, Sept. 27, 2011. (Xinhua/Wang Qingqin)
Hot Forum Discussion