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Economist: China's CPI growth rate to be 3.5 percent in 2012

By Zhu Jianhong (People's Daily)

15:42, January 10, 2012

Edited and translated by People's Daily Online

China's CPI growth rate in 2012 will be 3.5 percent and the rising pressure of commodity prices will decrease significantly, an economist said.

China's CPI growth rate of 2011 is expected to be 5.5 percent. Although it has exceeded the macro-control goal of 4 percent, it is still within the range of moderate inflation, said Fan Jianping, the chief economist of the National Information Center.

Fan said, the CPI growth rate started declining after it reached the summit of 6.5 percent in July. All these indicate that the commodity prices of 2011 were moderate and controllable.

The carryover effect accounted for 2.4 percentage points in 2011 and will account for about 1 percentage point in 2012.

The commodity price rise of this round was mainly caused by the rise of agricultural product prices. Since the beginning of the 21st century, China has experienced three dramatic general price fluctuations caused by the rise of agricultural products.

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