Food price rise a major driving force for 1st-half CPI
(Xinhua)
Updated: 2007-07-19 16:20
Updated: 2007-07-19 16:20
According to Zhuang Jian, a senior economist with the China office of Asian Development Bank, continuous CPI rises at a high level will have little influence on rich people, but affect low-income earners. Zhuang believed the central government will take strong measures to maintain economic and social stability.
According to NBS data, on year-on-year term, CPI was up 2.2 percent in January, up 2.7 percent in February, up 3.3 percent in March, up 3.0 percent in April and up 3.4 percent in May. The first quarter CPI stood at 2.7 percent.
In related developments, retail prices of commodities rose 2.4 percent in the first half of this year, or up 3.2 percent in June. Factory prices of industrial products increased by 2.8 percent in the six-month period, or up 2.5 percent in June. Buying prices of raw materials, fuels and power supply went up 3.8 percent in the January-June period, or up 3.4 percent in June.
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