ZCZC
BCN-25
CHINA-CONSUMER-PRICE-INDEX
China’s CPI growth expected to slow slightly in June: report
Beijing, July 1, 2018 (BSS/Xinhua) – China’s consumer price index (CPI), a
main gauge of inflation, was expected to grow 1.7 percent year-on-year in
June, slightly slower than the previous month, according to a research
report.
The CPI growth was likely to moderate as food prices fell last month due
to abundant summer vegetable supplies, the Bank of Communications financial
research center said in the report.
The CPI rose 1.8 percent year-on-year in May, according to the National
Bureau of Statistics. The June data will be released later this month.
With higher inflation rates early this year, the average CPI growth for
the first half of this year should stay around 2 percent, the report said.
It noted that pork prices could rebound in the second half of the year,
likely to push food prices marginally higher.
However, the inflation rate will remain at a relatively low level of
around 2 percent for the whole year due to stable demand and slower monetary
supply growth, leaving large room for monetary policy maneuvering, according
to the report.
This year, the government targets the CPI to increase by around 3 percent,
the same as the target for 2017.
BSS/XINHUA/HR/1120