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China's consumer inflation eases, factory-gate prices fall further

2020-10-16 14:25

BEIJING, Oct. 15 (Xinhua) -- Retreating food prices eased China's consumer inflation growth in September, while factory price decline widened, official data showed Thursday.

The consumer price index (CPI), a main gauge of inflation, rose 1.7 percent year on year in September, the National Bureau of Statistics (NBS) said.

The growth eased from the 2.4-percent rise registered in August.

The CPI edged up 0.2 percent month on month in September, compared with an increase of 0.4 percent in August.

Dong Lijuan, a senior statistician with the NBS, attributed the easing CPI growth to moderating food prices, especially vegetables and pork.

Food prices, which account for nearly one-third of the weighting in the country's CPI, climbed 0.4 percent month on month in September, with the pace of growth decelerating from 1.4 percent in the previous month.

Excluding food and energy, the core CPI rose 0.5 percent year on year, a growth rate level with August, NBS data showed.

In the first nine months, China's CPI rose 3.3 percent from a year earlier, staying within the government's annual target of around 3.5 percent set for 2020.

Wen Bin, a chief analyst at China Minsheng Bank, expected the CPI growth to further moderate in the coming months because of a higher comparative base from last year, creating room for monetary policy maneuvering.

With inflation growth remaining at a reasonable level, Wen said there was less chance for the central bank to cut the benchmark interest rates and reserve requirement ratio. He expected the central bank to keep using multiple policy tools to maintain liquidity at a reasonable and sufficient level.

On Thursday, the People's Bank of China injected 500 billion yuan (74.18 billion U.S. dollars) of funds into the banking system through one-year medium-term lending facility (MLF) loans, keeping the rate on the MLF loans steady at 2.95 percent.

China has vowed to pursue a prudent monetary policy in a more flexible and appropriate way. The central bank said in its second-quarter monetary policy report that it will make monetary policy more flexible and targeted to achieve a long-term balance between stabilizing growth and preventing risks.

According to Thursday's data, the country's producer price index, which measures costs for goods at the factory gate, fell 2.1 percent year on year in September, with the decline slightly widening from the 2-percent drop in August.

Dong also said that due to price fluctuations of international crude oil, prices of oil-related industries reversed the upward trend, with prices in oil and natural gas extraction shrinking 2.3 percent last month from August, and those for the processing of oil, coal and other fuel declining 0.5 percent.

In the first three quarters, factory-gate prices were down 2 percent on average from the same period last year, according to the NBS data.

 

北京,10月15日(新华社)——周四官方数据显示,9月份食品价格回落缓解了中国居民消费价格涨幅,同时工业品价格跌幅扩大。


国家统计局数据显示,9月份居民消费价格指数(CPI)同比上涨1.7%,这是衡量通货膨胀的主要指标。


与8月份的2.4%相比,这一增长有所放缓。


9月份消费者价格指数(CPI)环比上涨0.2%,而8月份的环比涨幅为0.4%。


国家统计局高级统计师董丽娟将CPI增速放缓归因于食品价格的回落,尤其是蔬菜和猪肉价格。


在中国CPI中占近三分之一权重的食品价格,9月份环比上涨0.4%,增速较上月的1.4%有所放缓。


国家统计局数据显示,扣除食品和能源,核心CPI同比增长0.5%,与8月份持平。


今年前九个月,中国CPI同比上涨3.3%,保持在政府设定的2020年约3.5%的年度目标之内。


中国民生银行(China Minsheng Bank)首席分析师温斌预计,未来几个月CPI增幅将进一步放缓,因为相比去年有了更高的比较基数,为货币政策的机动创造了空间。


与通货膨胀的增长保持在一个合理水平,温家宝说的机会减少了中央银行削减基准利率和存款准备金率。他预计央行将继续运用多种政策工具,将流动性保持在合理、充足的水平。


周四,中国人民银行通过一年期中期贷款工具(MLF)向银行系统注入5000亿元(741.8亿美元)资金,将中期贷款工具的利率保持在2.95%。


中国承诺将以更灵活、更恰当的方式推行稳健的货币政策。央行在第二季度货币政策报告中表示,将使货币政策更加灵活和有针对性,以实现稳定增长和防范风险之间的长期平衡。


根据周四公布的数据,衡量工厂生产成本的中国生产者价格指数(ppi) 9月份同比下降2.1%,较8月份2%的降幅略有扩大。


董还表示,由于国际原油价格波动,与石油相关的行业价格逆转了上涨趋势,与8月份相比,石油和天然气开采价格下降了2.3%,石油、煤炭和其他燃料加工价格下降了0.5%。


根据国家统计局的数据,今年前三个季度,出厂价比去年同期平均下降了2%。

 

来自: xinhua