Slower growth seen in CPI

Consumer prices in China are projected to grow at a slower pace in the second half of this year after rapid increases from January to June, an official from the National Development and Reform Commission (NDRC) said yesterday.

The level of the increase in the months ahead will depend on the harvest of farm products this autumn, as food has been the main factor driving this year's rise in the consumer price index (CPI), said Cao Changqing, the NDRC pricing director.

His projection came following a 3.2 percent CPI growth in the first six months and a 4.4 percent rise in June, the most rapid increase in 34 months. Up to 78 percent of the jump in the first six months was due to rising food prices.