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People's Daily Online>>China Business

China’s CPI may rise 4 percent in Jan.

(People's Daily)

16:12, February 07, 2012

Edited and translated by Yao Chun, People's Daily Online

Most of economic institutions in China have put the growth rate of consumer price index (CPI), a main gauge of inflation, for January between 4.1 percent and 4.2 percent.

They estimated that due to the strong demand during the Spring Festival, the consumer price index will rise by 4 percent in January 2012.

Though the commodity prices, a significant factor that sustained high inflation in 2011, had risen slightly in January due to the holidays, the inflation rate will fall gradually since February, according to the economic monitors.

The commodity prices saw modest increase in January, according to the statistics from Chinese Commerce Ministry and China’s National Bureau of Statistics.

Prices of vegetables grew slowly in winter because of the low temperature. In January, vegetable prices maintained the rising trend while the prices of aquatic products and meat also picked up due to the increasing demand in holidays.

During the Spring Festival, the vegetable wholesale price has risen by 3.7 percent from a week earlier, more than seven times of the meat’s growth rate which stood at about 0.5 percent, China’s Ministry of Commerce said.

Considering from multiple aspects, most of the economic institutions have given the estimation that the growth rate of China’s CPI in January will between 4.1 percent and 4.2 percent.

As the Spring Festival holidays ended and the carry-over effects declined, the growth rate of CPI will come down in February, according to Financial Research Center of the China’s Bank of Communications.

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