Views: 2862|Replies: 1

China April CPI up 2.8% [Copy link] 中文

Rank: 6Rank: 6

Post time 2010-5-11 13:41:38 |Display all floors
the situation is already serious in china. everything's price is rising, from cloth to food, from house to oil. maybe very soon in the future i don't have the ability to contiunue to live in beijing with my family.


xinhua

BEIJING - China's consumer price index (CPI), a main gauge of inflation, picked up faster in April by rising 2.8 percent year on year, the National Bureau of Statistics (NBS) announced here Tuesday.

The April figure was up 0.4 percentage point from 2.4 percent in March. The CPI dropped 1.5 percent in the same month last year.

For the first four months, China's CPI rose 2.4 percent year on year.

The producer price index (PPI), a major measure of inflation at the wholesale level, grew 6.8 percent year on year in April and was up 0.9 percentage point from March.

In April, consumer prices in China's urban areas increased 2.7 percent and in rural regions by 3.0 percent. Food prices, which accounted for about a third of the weighting in calculating the CPI, gained 5.9 percent during the month.

China is targeting a rise in consumer prices of around 3 percent this year, according to a government work report delivered by Premier Wen Jiabao in March at the annual legislative session.

China's CPI ended nine months of decline in November of 2009, when it rose 0.6 percent, as the nation's economy rebounded strongly ever since.
I am a Beijing girl.

Use magic tools Report

Rank: 6Rank: 6

Post time 2010-5-11 13:45:25 |Display all floors
AP

BEIJING – China's inflation accelerated to 2.8 percent in April, driven by a jump in politically sensitive food prices, adding to pressure for Beijing to cool its economic boom and a surge in living costs.

Food price inflation accelerated to 5.9 percent over a year earlier, up from March's 5.2 percent rate, the National Bureau of Statistics announced Tuesday. Overall April inflation was up 0.4 percent from the previous month.

Foreign companies and investors are closely watching China's inflation because any moves by Beijing to curb price rises might slow economic growth, with repercussions for the global recovery if it hurts demand for imported iron ore and other materials.

Inflation has been driven lately by surges in the cost of food and housing. Food prices are up partly due to shortages caused by dry weather, while housing prices have been driven by a flood of bank lending to support Beijing's stimulus.

Housing prices in 70 Chinese cities climbed 12.8 percent from the same time last year, despite government efforts to cool prices, the statistics bureau said.

Wholesale prices climbed 6.8 percent in April from a year earlier, a 0.9 percent increase over March's rise. That can lead to higher consumer prices down the line as retailers pass on higher costs.

The government gave no breakdown of food costs, but the Commerce Ministry said earlier that vegetable prices surged by 32.3 percent over a year earlier between March 29 and April 25. The price of eggs and fish rose 6.6 percent.
I am a Beijing girl.

Use magic tools Report

You can't reply post until you log in Log in | register

BACK TO THE TOP
Contact us:Tel: (86)010-84883548, Email: blog@chinadaily.com.cn
Blog announcement:| We reserve the right, and you authorize us, to use content, including words, photos and videos, which you provide to our blog
platform, for non-profit purposes on China Daily media, comprising newspaper, website, iPad and other social media accounts.