三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

CPI rises to 3 percent, highest so far for 2019

By Zhou Lanxu | China Daily | Updated: 2019-10-16 02:17
Share
Share - WeChat
[Photo/IC]

China's inflation as measured by the consumer price index rose to 3 percent year-on-year last month, versus 2.8 percent in August, as tighter pork supplies continued to push up food prices, the National Bureau of Statistics said on Tuesday.

To avoid stirring inflationary pressure while bolstering growth, officials are expected to refrain from a massive monetary stimulus but to resort to structural easing and fiscal stimulus in the coming months, analysts said.

Food prices rose by 11.2 percent year-on-year in September, with pork prices soaring by 69.3 percent and contributing more than half of the rise in CPI, according to the NBS.

Other meat prices also rose in September — poultry by 14.7 percent, beef by 18.8 percent and lamb by 15.9 percent year-on-year — the NBS said.

Nonfood prices, meanwhile, registered a modest rise of 1 percent year-on-year last month, versus 1.1 percent a month earlier, pointing to weak demand.

From January to September, the CPI rose on average by 2.5 percent, below the 3 percent annual control target, NBS data showed.

The CPI may remain unchanged or edge down in October, but it also may rise to about 3.5 percent by the end of the year, said Zhang Yu, chief macroeconomic analyst at Hua Chuang Securities.

"Pork supplies are still declining with fallout from the African swine fever, and some breeders have become reluctant to sell in anticipation of higher pork prices," she said, adding that consumer inflation is expected to wind down starting from the end of January.

Policymakers will need to strike a balance between maintaining economic expansion within a reasonable range and containing consumer inflation in the fourth quarter, said Liu Chunsheng, an associate professor of international trade at the Central University of Finance and Economics.

"But the top priority should still be stabilizing growth," Liu said.

The People's Bank of China, the central bank, may rely more on structural easing measures such as targeted cuts in the required reserve ratio to support growth, instead of broad-based interest rate cuts that may push up money supply and price levels more heavily, according to Liu.

On the fiscal side, Liu called for better implementation of tax and fee cut policies. "More research should be done on how to ensure that small and medium-sized enterprises reap the benefits of tax cuts," he said.

Raymond Ma, a portfolio manager at Fidelity International, said the government may introduce automobile tax cuts and subsidies for purchasing home appliances to support growth.

The producer price index, which gauges factory gate prices, dropped by 1.2 percent year-on-year in September, the third consecutive monthly decline and the steepest contraction since July 2016, according to the NBS. Weak PPI reflects sluggish demand in the world economy amid protracted trade tension between China and the United States during the past year and a half, analysts said.

In the US, the purchasing managers index indicated that the manufacturing sector contracted last month by the fastest pace since June 2009, according to the Institute for Supply Management.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 国产精品久久久久无毒 | 欧美亚洲国产成人综合在线 | 福利一区二区在线观看 | 91最新免费观看在线 | 国产青草视频免费观看97 | 欧美日韩一级片在线观看 | 成人性生活免费视频 | 国产欧美日韩不卡一区二区三区 | 亚洲色图第四页 | 亚洲成年人影院 | 特毛片 | 国产日韩久久 | se婷婷 | 我要看黄色一级大片 | 一区二区高清视频在线观看 | 2015日韩永久免费视频播放 | 国产99热久久这里有精品999 | 这里只有精品国产 | 国产一区二区三区免费在线视频 | 成人18免费入口 | 国产一级一片 | 欧美曰韩一区二区三区 | 日本欧美久久久久免费播放网 | 欧美成人禁片在线www | 日韩欧美亚洲综合一区二区 | 午夜国产精品无套 | 香蕉依依精品视频在线播放 | 欧美一级片毛片 | 谁有免费的黄色网址 | 国产精品玖玖玖影院 | 成人国产亚洲欧美成人综合网 | 亚洲一区二区免费看 | 日本黄色片免费观看 | 在线视频国产网址你懂的在线视频 | 国产精品久久久久久久久久久久久久 | 99人体做爰视频 | 欧美黄视频网站 | 国产在线观看免费不卡 | 亚洲国产婷婷香蕉久久久久久 | 久久一级黄色片 | 国产欧美精品综合一区 |