China's consumer inflation rate to dip: economist

Source:Xinhua Published: 2017/10/2 13:12:51

China will see mild inflation increase in September and the remaining months of the year because of food prices and a weakening carry-over effect, Bank of Communications economist Lian Ping forecast.

Lian expected the consumer price index (CPI), a main gauge of consumer inflation, to rise 1.6 percent year on year in September, down from the 1.8-percent growth recorded in August.

Lian attributed the lower growth to easing food prices since the middle of last month, which ended a rebound in August on the back of adverse weather.

Food prices are unlikely to see large increases during the rest of the year, while a carry-over effect from last year would phase out after reaching this year's peak in June, leading to lower CPI growth, Lian said.

CPI climbed 1.5 percent from one year earlier for January-August, below the government's annual inflation regulation target of around 3 percent for 2017.

The country is scheduled to release the CPI and producer price index data for Sept. on Oct. 16.

Posted in: ECONOMY

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