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.
Related Stories
Premier says China's economic growth stablizing 2012-10-17 19:06
Low inflation stimulates stable economy 2012-10-16 17:38
Low inflation 'offers stimulus opportunity' 2012-10-16 09:10
China's inflation rises 1.9% in Sept 2012-10-15 09:59
China focuses on managing inflation 2012-10-14 16:38
Today's Top News
President Xi confident in recovery from quake
H7N9 update: 104 cases, 21 deaths
Telecom workers restore links
Coal mine blast kills 18 in Jilin
Intl scholarship puts China on the map
More bird flu patients discharged
Gold loses sheen, but still a safe bet
US 'turns blind eye to human rights'
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
All-out efforts to save lives |
Liaoning: China's oceangoing giant |
Poultry industry under pressure |
'Spring' in the air for NGOs? |
Boy set to drive Chinese golf |
Latest technology gets people talking |