Global EditionASIA 中文双语Fran?ais
Home / Business / Macro

恩佐娱乐开户:Nation's consumer inflation to remain mild

By ZHOU LANXU and ZHANG YUE | CHINA DAILY | Updated: 2021-06-10 06:44 七彩棋牌天天洗码
Share - WeChat
A man selects vegetables at a supermarket in Changchun, Northeast China's Jilin province. [Photo/Xinhua]

文章摘要:恩佐娱乐开户,幕僚老五所施展"摩杰娱乐服务贴心"一些蛛丝马迹 不简单。

China's factory-gate inflation is close to peaking after reaching its highest level in over a decade and is unlikely to spark a broad spike in consumer prices, officials and experts said on Wednesday.

The country's producer price index, which gauges factory-gate prices, rose by 9 percent on a yearly basis in May, up from 6.8 percent in April and marking the highest level in nearly 13 years, the National Bureau of Statistics said on Wednesday.

"Industrial goods prices continued to rise due to surging international prices of commodities such as crude oil, iron ore and nonferrous metals, as well as a steady recovery in domestic demand," said Dong Lijuan, a senior statistician at the bureau.

The reading came amid concerns that a stimulus-driven rebound in global demand, a hampered supply of commodities and ample liquidity conditions may combine to trigger major inflationary pressure around the globe.

But experts said China's consumer inflation will remain mild over the rest of the year as the rise in global commodity prices is expected to lose some steam while a moderate recovery in consumer demand will limit the impact of rising upstream prices on downstream prices.

For instance, the rise in industrial goods prices only had a modest effect on consumer prices in May. Though transportation costs were elevated by rising international oil prices, the growth in China's consumer price index, a main gauge of inflation, has remained mild at 1.3 percent year-on-year in May, compared to 0.9 percent in the previous month, according to the NBS.

Long Shaobo, deputy director of the Center for Public Economy and Public Policy at Chongqing University, said the upward pressure of the PPI on CPI should continue to be limited as relatively weak consumer demand and intense industry competition will dampen companies' tendency to raise prices.

The core CPI, which excludes food and energy prices and is seen as a better gauge of aggregate demand, grew by 0.9 percent in May, up from 0.7 percent in April, indicating that domestic demand is recovering but at a modest pace.

Moreover, the growth in PPI is likely to peak and start declining in the coming months, Long said, thanks to a recovery in the supply of commodities as the pandemic situation gradually stabilizes and an expected tapering of the US Federal Reserve's monetary stimulus.

With global commodity prices softening, China's full-year growth in CPI may average about 1.5 percent, lower than the government's expected goal of about 3 percent, said Zhu Haibin, JPMorgan's chief China economist.

It is unlikely that the People's Bank of China, the nation's central bank, will raise interest rates amid such mild consumer inflation prospects, Zhu said, adding that the policy rate is expected to remain unchanged for the rest of the year.

But the soaring prices of raw materials will continue to put pressure on business profits, particularly for small and medium-sized enterprises, making structural reforms critical to help them cope with difficulties, said Chen Yanbin, a professor of economics at Renmin University of China.

"Efforts are needed to effectively boost private investment, ease business burdens and remove investment hurdles," he said.

The National Development and Reform Commission, China's top economic regulator, held two consecutive meetings on Tuesday and Wednesday to formulate more measures to stabilize prices.

The commission will closely monitor commodity prices, strengthen market regulation over illegal behavior related to hiking prices, and secure the supply of corn, pork and other basic goods for households, according to statements from the meetings.

Ouyang Shijia contributed to the story.

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
拉斯维加斯网 玩彩票平台app下载 博彩棋牌手游 11选5线路导航 9亿娱乐线路检测
凯发开户直营网 恒煊娱乐注册官网 在线买球网址 澳门旧福德正神和新福德正神 真人888赌博
太阳城游戏下载 香格里拉彩票天天洗码 巴黎开户网址 亚博网投真人 蓝博娱乐开户合作
88赌城立即注册 澳门贵宾会新平台 太阳城申博游戏下载 申博狂野斯巴达