Oct inflation likely to have eased: experts
Updated: 2012-11-05 10:13
(Xinhua)
|
|||||||||
BEIJING - Soon-to-be-released economic data will show China's inflation continued to ease in October on falling food prices, but rebounds might occur during the last two months of the year as the economy stabilizes, experts have forecast.
Both Lu Zhengwei, chief economist at the Industrial Bank, and Li Huiyong, chief economist at Shenyin Wanguo Securities, told Xinhua that the consumer price index, a major gauge of inflation, will be seen to have expanded at 1.8 percent year-on-year in October.
Lian Ping, chief economist at the Bank of Communication, projected flat CPI growth from September to October, because non-food prices have gained despite declines in food prices.
Food prices account for a third of the weighting in the calculation of the CPI. Latest data from the Ministry of Commerce showed that the average wholesale prices of 18 staple vegetables in 36 major Chinese cities dropped 0.4 percent over the week from October 22 to 28.
According to Lu, the CPI is likely to hit the bottom in October and go upward again in November and December along with a pick-up in the country's economic growth.
The economy has slowed to a seven-quarter low of 7.4 percent in the third quarter dragged down by lackluster external and domestic markets. But economists are widely expecting a small rebound in the fourth quarter.
In September, the CPI increased 1.9 percent year-on-year, easing from a 2-percent rise in August amid government tightening measures to cap price growth, data from the National Bureau of Statistics showed.
The NBS is scheduled to release the CPI for October on November 9.
- Relief reaches isolated village
- Rainfall poses new threats to quake-hit region
- Funerals begin for Boston bombing victims
- Quake takeaway from China's Air Force
- Obama celebrates young inventors at science fair
- Earth Day marked around the world
- Volunteer team helping students find sense of normalcy
- Ethnic groups quick to join rescue efforts
Most Viewed
Editor's Picks
Supplies pour into isolated villages |
All-out efforts to save lives |
American abroad |
Industry savior: Big boys' toys |
New commissioner
|
Liaoning: China's oceangoing giant |
Today's Top News
Health new priority for quake zone
Xi meets US top military officer
Japan's boats driven out of Diaoyu
China mulls online shopping legislation
Bird flu death toll rises to 22
Putin appoints new ambassador to China
Japanese ships blocked from Diaoyu Islands
Inspired by Guan, more Chinese pick up golf
US Weekly
Beyond Yao
|
Money power |