China can achieve full-year CPI growth target, prices in next few months to be slightly higher – state planner
MACRO POLICY & REGULATION
China can achieve full-year CPI growth target, prices in next few months to be slightly higher – state planner
MACRO POLICY & REGULATION

China can achieve full-year CPI growth target, prices in next few months to be slightly higher – state planner

 

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China will be able to achieve its full-year CPI growth target of around 3% this year, said Yang Yinkai, an official from the National Development and Reform Commission, the top economic planner.

However, it must be noted that, due to factors such as imported inflationary pressure and seasonal rises in pork prices as well as low base last year, China’s price levels in the next few months will likely be slightly higher than previous months, he said.

In particular, due to impacts of COVID resurgence and disasters, the number of people living in straitened circumstances have increased and their normal lives may face rising pressure, he added.

From September to March next year, Chinese local governments are expected to issue a total of about 20 billion yuan temporary subsidies to those living in straitened circumstances, said the NDRC.