Off the wire
• Interview: Fiji's military looks forward to joining China's V-Day parade  • Gold price closes down in Hong Kong  • 1st LD: 2 senior army commanders killed in Iraq's Anbar  • China breeze past Peru 3-0 to stay in title contention  • 2nd Ld-Writethru: China stocks stage relief rally after 5-day slide  • Foreign exchange rates in Hong Kong  • Body of former senior CPC official cremated  • Major news items in leading German newspapers  • Chinese gov't capable of keeping economy afloat: UAE business leader  • Commentary: U.S. cannot dodge EU refugee crisis  
You are here: 　 Home

China August inflation forecast at 1.9 pct

Xinhua, August 27, 2015 Adjust font size:

China's Consumer Price Index (CPI) is likely to grow 1.9 percent in August from a year earlier, up slightly from the 1.6 percent recorded in July, an industry report said on Thursday.

The official CPI for August is due to be released by the National Bureau of Statistics (NBS) on Sept. 10.

Annual CPI growth will be well below the 3-percent target, said the report from the Bank of Communications.

The report attributed the expected CPI growth to rising food prices, which account for around one-third of the weighting in CPI calculation, especially the increasing prices of pork, vegetables and eggs.

Since 2015, pork prices have been driven up as a result of a decline in the number of pigs being bred. Low prices last year and the rising price of feed have made pig farmers less willing to raise pigs.

In July, pork prices, up 16.7 percent from a year ago, were the main driver of food inflation and contributed 0.48 percentage points to the CPI growth of 1.6 percent, a nine-month high. Endi