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 hits year's high point

By Zhou Lanxu and Xin Zhiming | China Daily | Updated: 2019-12-11 04:07
Share
Share - WeChat
[Photo/VCG]

China's consumer price index, a main gauge of inflation, rose 4.5 percent year-on-year in November, the highest monthly figure for the year, the National Bureau of Statistics said on Tuesday.

Analysts said the index may remain at high levels in the first half of next year, but fall in the second half in comparison with relatively high figures this year.

Rising consumer inflation is expected to alert macroeconomic policymakers, but it should not distract their focus on preventing deceleration of growth at this year's Central Economic Work Conference, which is expected to convene this week, economists said.

Food prices grew last month by 19.1 percent year-on-year, compared with 15.5 percent in October, while nonfood prices gained 1 percent, 0.1 percentage point higher than that of October.

Pork prices rose last month by 110.2 percent year-on-year, becoming the main driving force for rising CPI.

In the first 11 months of the year, consumer prices rose by 2.8 percent on average from a year earlier, the bureau said.

"The CPI surge is not surprising," said Yu Yongding, an economist at the Chinese Academy of Social Sciences and a former member of the central bank's monetary policy committee. "It is mainly driven by pork price rises, and core inflation excluding highly volatile food and energy prices remains mild."

Since inflation was mainly triggered by a single factor, pork prices, it is unnecessary for China to tighten monetary policy because it won't help dampen pork prices, said Niu Li, deputy director of the forecasting department at the State Information Center.

The price rises should not affect China's monetary policy stance, and there's still room for strengthening countercyclical regulation to boost growth, he said, predicting that this year's CPI growth may reach 2.9 percent, slightly lower than the 3 percent inflation control target for the year.

China's growth may need to be around 6 percent next year to achieve its goal of doubling its 2010 GDP by 2020, Niu said. "There's still some room for China to take countercyclical measures to stabilize growth," he said.

Zhang Ye, founding partner of Cyanhill Capital, a Chinese early-stage venture capital firm, said China has ample policy reserves to achieve its growth and price control targets.

"To boost growth, for example, China can further encourage consumption, build a favorable environment for investors and promote innovation-driven, high-quality development," he said.

The Central Economic Work Conference this week is expected to set a tone for next year's economic work agenda.

"We expected policymakers at the meeting to become more tolerant toward downside growth pressure," said Cheng Shi, managing director and chief economist at ICBC International Holdings.

"Policymakers may allow the country's GDP growth to dip below 6 percent in certain quarters next year, though the whole year's growth should be maintained at around 6 percent," he said. "They would strike a balance between growth stabilization and price stabilization."

Ouyang Shijia contributed to this story.

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: 慈禧级淫片a级中文在线 | 亚洲成a人片在线观 | 国产综合成人久久大片91 | 久久国产精品只做精品 | 亚洲精品第五页中文字幕 | 欧美日韩三区 | 欧美日韩第二页 | 亚洲人成人网毛片在线播放 | 伊人网影院| 91久久| 亚洲视频在线观看网站 | 亚洲综合一区二区三区四区 | 亚洲综合视频网 | 亚洲第三十七页 | 高清一区二区三区视频 | 韩国女主播精品一区二区 | 一级视频黄色 | 国产精品美女自拍 | 免费播放黄色 | 国内精品久久久久 | 美国一级特色大黄 | 2020国产成人精品免费视频 | 在线观看h片 | 曰韩在线 | 在线婷婷 | 中文字幕美日韩在线高清 | 久久精品中文字幕一区 | 精品久久国产 | 最新亚洲手机在线人成网站 | 亚洲综合色区图片区 | 亚洲第一在线播放 | 亚洲国产毛片 | 欧美黄色片免费 | 成年女人天堂香蕉网视频 | 黄色大片播放 | 成人午夜影视全部免费看 | 国产www| 国产精品无码久久av | 在线观看黄a | 麻豆小视频 | 欧美一级毛片欧美一级无片 |