BIZCHINA> Top Biz News
![]() |
Falling food prices drive inflation to 22-month low
By Wang Xu (China Daily)
Updated: 2008-12-12 07:14
The consumer price index (CPI) increased 2.4 percent year-on-year last month, down from 4 percent in October, the National Bureau of Statistics (NBS) said Thursday. Falling food prices were the main contributor to the drop in consumer inflation, which peaked at 8.6 percent in February. Last month, food prices, which account for one-third of the CPI basket, rose 5.9 percent year-on-year, the lowest in almost two years. On a month-by-month basis, they dropped 1 percent. The CPI for the first 11 months of this year, however, was up 6.3 percent year-on-year, the NBS said. Producer price index figures released Thursday showed that last month wholesale inflation dropped to 2 percent year-on-year, the lowest in 31 months. The two inflation graphs suggest an imminent rebound of consumer prices is unlikely. "We could start dealing with deflation soon, given weakening demand and waning consumer confidence," said Chen Jianqi, an economist with Bank of Communications. The economy has been losing steam because of the deepening global financial crisis. It has made Goldman Sachs Group Inc cut its forecast for the country's economic growth next year from 7.5 to 6 percent. Earlier, the World Bank forecast the GDP growth would slow down to 7.5 percent. Analysts said this year's harvest would bring down grain prices, one of the main drivers of soaring inflation earlier this year. The government's decision to reform the oil pricing mechanism from Jan is likely to reduce fuel prices, too. Consumer inflation is likely to drop below 2 percent in December and would be around 6 percent for the whole of 2008, experts said. "There is further scope for the central bank to ease the monetary policy in order to avoid excessive slowdown and stave off deflation," Jing Ulrich, JP Morgan chairman for China Equities, said. The central bank has cut the benchmark lending rate from 7.47 percent to 5.58 percent since September to boost the economy with a moderately relaxed monetary policy. It has lowered the lenders' reserve requirement ratio and scrapped curbs on local banks' monthly loans, too, as part of its efforts to boost liquidity. The other major step to boost the economy is the $586-billion stimulus package the government announced on Nov 9. The package, to last till 2010, is expected to generate an additional annual GDP growth of 1 percentage point and create about 1 million jobs. And Ulrich said he expected "the government to take further fiscal stimulus measures, particularly to boost domestic consumption" and make it a more important engine of growth. (For more biz stories, please visit Industries)
|
主站蜘蛛池模板: 欧美三级黄色 | 国产成人免费视频精品一区二区 | 亚洲精品h | 日韩国产中文字幕 | 欧美aaaaa激情毛片 | 一级aaa级毛片午夜在线播放 | 欧美精品一级毛片 | 国产一区二区亚洲精品天堂 | 深夜福利视频在线观看免费视频 | 国产成人精品999在线 | 国产日产欧产精品精品推荐小说 | 亚洲国产亚洲片在线观看播放 | 丝袜足液精子免费视频 | 精品久久久久久影院免费 | 国产一级一国产一级毛片 | 国产精品理论片 | 久久91精品国产91久久 | 欧美日韩一区二区在线 | 天天看夜夜 | 91香蕉视频成人 | 国产高清一区二区 | 亚洲性视频在线 | 欧美激情免费观看一区 | 在线欧洲成人免费视频 | 欧美日韩综合高清一区二区 | 国产99高清一区二区 | 国产日韩久久久精品影院首页 | 久久久毛片| 草草草在线观看 | 国产精品久久久久久久久免费观看 | 亚洲视频中文字幕在线观看 | 亚洲精品久久久午夜伊人 | 国产欧美综合精品一区二区 | 亚洲韩国欧美 | 亚洲国产第一区二区香蕉日日 | 美女双腿打开让男人桶爽网站 | 久久精品亚洲一区二区 | 久久a热6 | 伊在人香蕉99久久 | 特级毛片全部免费播放a一级 | 国产成人小视频在线观看 |