综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Economy

Markets

Industries

Insights

Reports

Events

ICBC says China inflation rate to hit 8% in 1st quarter

(Xinhua)
Updated: 2008-04-04 08:54

The Industrial and Commercial Bank of China (ICBC) is forecasting an eight percent increase in the country's consumer price index (CPI) for the first quarter of 2008. The official government figures come out in mid-April.

Related readings:  CPI to remain high before easing in 2nd half  China won't curb CPI at cost of global economy  CPI leaps to 8.7% in February, 11-year high  Political advisor suggests forecasting CPI index  January CPI may decline to 2.9%

The bank said in a report issued on Thursday that the CPI would hit 8.2 percent in March, slightly down from the previous month as the effects from the snow chaos that hit China earlier this year died away.

Inflation in China took its biggest jump in nearly 12 years in February when it rose 8.7 percent compared to the same period a year earlier. Food prices surged 23.3 percent while non-food prices edged up 1.6 percent from the year earlier period.

Inflation was mainly fueled by rising food and energy prices in the global market, and compounded by domestic factors that included increased costs and a strong demand, the report said.

The new round of global grain price rises, including rice and wheat, might add more pressure to the government's anti-inflation efforts.

However, the inflation index would start decelerating in the second half of 2008 as the government's macro controls took effect. The continued global slowdown also weighed on demand and could gradually pull down prices, the report said.

China rolled out a series of measures to fight inflation after the government was reshuffled last month. Among the latest moves was an increase in farm subsidies to boost production and curb grain price hikes.