- CNTV English - CCTV News

Homepage > News > Biz >

China's CPI growth to slow in next two months, bank report says

11-12-2010 08:42 BJT Special Report:China’s Economic Data for Oct. |

BEIJING, Nov. 11 (Xinhua) - China's consumer price index (CPI), a major gauge of inflation, has reached its 2010 peak in October and its growth is likely to slow over the rest of the year, a report from the Bank of Communications forecast on Thursday.

Impacts of bad weather conditions, positive output gaps, and tight industrial product supplies will gradually decline in the next two months, which may lead to a slower CPI increase despite short-term pressures from imported inflation and food price hikes that still exist, the report said.

The report was released after the country's October CPI hit a 25-month high of 4.4 percent year on year, accelerating from September's 3.6 percent.

The report anticipated that the country's whole year CPI will stand at about 3.1 percent, and the inflation growth will start to accelerate again from the beginning of 2011, driven by long-term pressures brought by global and domestic excessive liquidities, food price hikes, rising labor costs and imported inflation.

From January to October, China's CPI rose 3 percent year on year, hitting the government's target ceiling for the year.

Further, the nation's central bank raised benchmark interest rates last month and ordered banks on Wednesday to set aside more reserves in its latest effort to rein in liquidity.

Editor:Xiong Qu |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program