1. LINE

      Text:AAAPrint
      Economy

      China sees consumer inflation, producer deflation in 2015

      1
      2016-01-09 17:14Xinhua Editor: Huang Mingrui

      China's consumer inflation continued to grow mildly in 2015, and producer prices went deep into deflation territory, as domestic demand remained lackluster amid a slowing economy, official data showed on Saturday.

      The consumer price index (CPI), a main gauge of inflation, increased 1.4 percent year on year in the last year, down from a 2 percent increase in 2014 and 2.6 percent in 2013, the National Bureau of Statistics (NBS) said in a statement.

      The reading hit a six-year low and was far below the government's 3-percent target set for the year.

      In 2015, food prices, accounting for one-third of the CPI calculation, rose 2.3 percent and non-food prices edged up 1 percent.

      Consumer prices started to pick up moderately in the last quarter of the year as CPI growth recovered to 1.6 percent in December from November's 1.5 percent and October's 1.3 percent.

      On a monthly basis, December's CPI edged up 0.5 percent against the previous month.

      The NBS attributed the mild recovery mainly to rising food prices as vegetable and fruit prices jumped after rain and snow hindered production. Non-food prices remained flat.

      China's producer price index (PPI), a measure of cost for goods at the factory gate, dropped 5.2 percent year on year in 2015, widening from a 1.9-percent slip registered in 2014.

      In December, the PPI fell 5.9 percent from a year ago, unchanged from November, marking the 46th straight month of decline.

      The decline was due to price drops in oil and natural gas exploitation, ferrous metal smelting, coal mining and fuel gas supply.

      HSBC analyst Qu Hongbin said CPI and PPI growth was much lower than previous levels, showing rising deflation pressure caused by sluggish demand will pose a major risk in 2016.

      The PPI and CPI are related, as the PPI reflects prices in production, while the CPI reflects prices at the point of consumption. Price fluctuations usually first appear in the production phase before being passed on to consumers.

      Bloomberg economist Tom Orlik said with headline CPI now edging up for two months in a row and non-food prices stable, concerns about deflation in the producer sector creeping into the consumer sector may ease somewhat. "Inflation remains low but stable."

      But Orlik warned that an unchanged PPI reading suggests December's industrial output could continue to languish, already struggling with a higher base for comparison at the end of 2014.

      The NBS is scheduled to release major economic indicators for 2015, including GDP, industrial output and fixed-asset investment on Jan. 19.

      Weighed on by sluggish demand, weak exports and flagging investment, China's economy expanded by 6.9 percent year on year in the third quarter of 2015, the lowest quarterly growth in six years.

      To combat the economic slowdown, the People's Bank of China cut the benchmark interest rates and the reserve requirement ratio of banks five times in 2015.

      Qu called for more policy easing and supply-side reforms to tackle the deflationary risk and help the growth hold steady.

      "The CPI remains considerably below the government's target...and is set to stay low heading into 2016. That provides motive and opportunity for further easing," Orlik said.

      He expects two rate cuts in the first half of 2016 -- a total of 50 basis points -- as the central bank works to lower real borrowing costs.

      To stimulate domestic demand, policymakers have vowed to push forward supply-side policies and measures in 2016, moving the economic model away from one that is reliant on the demand-side strategy of capital investment and exports.

      Confronted with lingering downward pressure, the supply side is heralded by many as having the power to sustain growth, as it will improve and increase the supply of goods and services, consequently lowering prices and boosting consumption.

        

      Related news

      MorePhoto

      Most popular in 24h

      MoreTop news

      MoreVideo

      News
      Politics
      Business
      Society
      Culture
      Military
      Sci-tech
      Entertainment
      Sports
      Odd
      Features
      Biz
      Economy
      Travel
      Travel News
      Travel Types
      Events
      Food
      Hotel
      Bar & Club
      Architecture
      Gallery
      Photo
      CNS Photo
      Video
      Video
      Learning Chinese
      Learn About China
      Social Chinese
      Business Chinese
      Buzz Words
      Bilingual
      Resources
      ECNS Wire
      Special Coverage
      Infographics
      Voices
      LINE
      Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.
      主站蜘蛛池模板: 亚洲国产精品成人综合久久久 | 最近免费中文字幕mv电影| 91精品国产免费网站| 一色屋成人免费精品网站 | 久久国产免费福利永久| 成年女人毛片免费视频| 五月婷婷亚洲综合| 亚洲综合图色40p| 久久精品国产亚洲AV大全| 激情五月亚洲色图| 免费在线观看自拍性爱视频| 久久最新免费视频| 无码av免费毛片一区二区| 国产精品免费播放| 亚洲大尺度无码专区尤物| 亚洲一区二区三区深夜天堂| 无码天堂亚洲国产AV| 成人爽a毛片免费| 最近免费中文字幕大全| 亚洲无码高清在线观看| 亚洲精品综合久久中文字幕| 亚洲国产精品无码久久久秋霞1| CAOPORN国产精品免费视频| 四虎免费影院ww4164h| 又粗又大又猛又爽免费视频| 婷婷亚洲综合五月天小说| 一本色道久久88—综合亚洲精品| 一级做受视频免费是看美女| xx视频在线永久免费观看| 亚洲国产成人精品女人久久久 | 久久国产免费一区| 日韩一区二区免费视频| 亚洲AV无码成人精品区蜜桃| 伊人久久五月丁香综合中文亚洲 | jizz18免费视频| 日韩毛片免费无码无毒视频观看 | 亚洲av永久无码精品三区在线4| 产传媒61国产免费| 美女视频黄的全免费视频| 国产亚洲自拍一区| 亚洲精品乱码久久久久蜜桃|