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Details on China's Q3 CPI

10-21-2010 13:56 BJT Special Report:China’s Economic Data for Sept. |

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Consumer Price Index is the main gauge for tracking inflation. China's September CPI is attracting big attention with its record high.

The CPI rose in July to its highest level since October 2008. It was up 3.3 percent from a year earlier, boosted by rising food prices after widespread floods. Food prices account for about a third of the weighting in calculating the CPI.

They climbed 6.8 percent in July. In August, the CPI rose to a 22-month high of 3-and-a-half percent from a year earlier, the fastest pace in nearly two years. This was brought on rising farm product prices caused by bad weather, and increasing demand. Food prices climbed 7-and-a-half percent year on year in August. It was the second consecutive month the CPI exceeded the government's full-year target of 3 percent. Facing September's CPI hit a record high in this year,the government would maintain stability and continuity in macro policies.

Sheng Laiyun, Spokesman of National Bureau of Statistics, said,"Based on the judgment, although the factors may result in a price increase,if we can manage the inflation expectation well, our macro economic control targets could be reached. We are confident about maintaining the national economic growth rate at 10 percent, and the rise in prices of consumer goods at 3 percent, because from January to September, we can see the average rise in prices is at 2.9 percent, which is quite remarkable."

Editor:Zhang Jingya |Source: CNTV

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