Economy

China's CPI to increase 2.6 pct in H1: NDRC

(Xinhua)
Updated: 2010-06-13 08:49

BEIJING - China's consumer price index (CPI) is expected to grow 2.6 percent in the first half of 2010 over one year ago, the nation's economic planning agency said on Friday.

Related readings:  CPI increases 3.1% in May  CPI hits 19-month high but not all see tighter policy  Price surge in farm products has limited impact on CPI  Speculation has limited impact on China's CPI

As the world's major economies have only experienced moderate inflation and international commodity prices dropped sharply, this has simultaneously reduced domestic inflation pressures on China, according to a statement released by the National Development and Reform Commission (NDRC).

In addition, skyrocketing prices of some farm produce such as garlic has been curbed as the government's crackdown on speculation has proven effective. Summer grain is also likely to see a bumper harvest, it said.

The CPI rose 3.1 percent year on year in May, up 0.3 percentage points from April's 2.8 percent.