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China's Sept. inflation to stay around 6.3%: Analysts

(People's Daily Online)

09:44, September 26, 2011

China’s inflation in September is predicted to hover above 6.0 percent but lower than July’s 6.5 percent, a record high in as long as 37 months, economists and market analysts say.

The medium level of the consumer price index, estimated by a group of 14 economists and major analysts who work for government departments, investment banks and securities companies, is 6.3 percent for September, 0.1 percent higher than August’s 6.2 percent.

The majority of the economists and analysts believe that China’s central bank is not likely to gear up its already tightening financial policy – by raising interest rates or lenders’ required reserve ratios in the remaining time of 2011.

But, Zhou Xiaochuan, Governor of the People’s Bank of China, the central bank, reaffirmed Beijing’s stance in Washington, the United States, over the weekend that the country will not relax its monetary policy, as inflation remains elevated, and prices of major staple food products, particularly meat and fruits, stays high, eroding ordinary people’s purchasing power and living standard.

Chinese economists also worry that increasing inflows of speculative hot money to China have been stopped, which could add to market liquidity and exacerbate inflation.

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PD User at 2011-09-2658.68.145.*
Likely to be more than 6.5 per cent for September CPI, don"t believe me ?
  

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