Home · Weather · Forum · Learning Chinese · Jobs · Shopping
Search This Site
China | International | Business | Government | Environment | Olympics/Sports | Travel/Living in China | Culture/Entertainment | Books & Magazines | Health
Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
Commerce Ministry: CPI to Rise by 4% This Year
Adjust font size:

In a survey published yesterday, the Ministry of Commerce predicted the country's consumer price index (CPI), a key barometer of inflation, is expected to rise 4 percent for the whole year, one percentage point above the official whole-year target of three percent.


The figure climbed by 6.5 percent in the month of August and by 3.9 percent for the first eight months of the year, according to the National Bureau of Statistics.


The ministry's survey studied the supply and demand situation of 600 major consumer goods. It predicted that 5 consumer products: pork, pig spareribs, peanut oil, soybean oil and rapeseed oil, would face supply constraints during the second half of the year due to production periods and the outbreak of blue-ear disease in some regions.


One hundred and nine consumer goods were listed as facing surplus supplies. These are mainly concentrated in sectors like electrical appliances, garments and accessories, shoes and caps, timepieces and glasses.


However, the survey pointed out that the overall supply and demand relationship would balance out during the second half of the year as consumer prices continue to rise steadily.


Retail sales for the whole year are projected to increase by 15 percent and reach 8.8 trillion yuan (US$1.17 trillion), as fast economic growth and the booming securities market continue to stimulate consumer's shopping desire.


In the first half of this year, per capita disposable income rose by 14.2 percent for urban residents and per capita cash income for farmers also gained a 13.3 percent increase. This increasing spending power has prompted retail sales to top 4.9 trillion yuan (US$652.1 billion) for the first 7 months, a 15.5 increase from a year ago and the highest hike since 1997.


( by Yuan Fang, September 19, 2007)

Tools: Save | Print | E-mail | Most Read

Username   Password   Anonymous
China Archives
Related >>
- Interest Rate Raised for 5th Time This Year
- Retail Sales Up 17.1% in August
- 'No Threat of Big Rise' in Inflation
- NDRC Allays Price Fears
- CPI to Rise Moderately, Still Under Control
- Retail Sales Up 16.4% in July
Most Viewed >>
-China set to hit the brakes on rising yuan
-Macao's gaming market expands further
-Snow's economic toll temporary: economist
-Power to resume shortly in worst-hit area by snow
-Online operators are on top of the game

May 15-17, Shanghai Women's Forum Asia
Dec. 12-13 Beijing China-US Strategic Economic Dialogue
Nov. 27-28 Beijing China-EU Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright © All Rights Reserved E-mail: Tel: 86-10-88828000 京ICP证 040089号