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News
Chinese inflation accelerated to squeeze up
In February China's CPI rose up to a maximum of 10 months holiday factors, inflation is approaching the government set a target of 3.5%. Bloomberg quoted economists view the new Chinese leadership is facing monetary tightening pressure. February CPI rose by 3.2%, higher than the Bloomberg survey median 3%, and the value before the January level of 2%. Economic data will distort the Chinese New Year holiday before two months, bureau of statistics economists think Spring Festival factor is the main reason affecting food prices in February rose more, CPI rose year-on-year expansion. But Bloomberg quoted economists view, if inflation continued to rise over the next few months, will enhance China's new leadership tightening of monetary policy is likely to. The outgoing Wen Jiabao in the National People's Congress government reports, including land, labor costs, as well as easing in the advanced countries, being a "considerable inflationary pressure". ANZ Bank (ANZ) chief economist Liu Ligang Greater China think: "this policy risks are looming inflation." Liu Ligang believes that the wage increase, environmental cost, and economic growth will push up prices. Wen Jiabao at any end of a government report set for 2013 inflation target is 3.5%, the target inflation rate 4% lower than last year. In 2012 China's inflation rate of 2.6%, equivalent to only half of 2011. Peng Bo is expected to China's inflation rate in 2013 was 3.1%. China's national development and Reform Commission Vice President under Chen Dongqi Economic Research Institute said last week: once the CPI for 3 consecutive months of steady at more than 3%, governments may need to raise interest rates. JP Morgan chase in Hongkong, chief China economist Zhu Haibin think: this month, CPI will drop to 2.5%, and then gradually accelerated "sustained and stable in 3%". He believes that China's central bank policy may move toward tightening. Chinese food prices in February rose 6%, significantly lower than during the Spring Festival in January rose 10.5% last year. Goldman Sachs pointed out in the report of March 6th, the Chinese government anti-corruption campaign against waste, resulting in food consumption may drop down 1 percentage points of inflation. Not too Sheng said the prediction of the existence of "highly uncertain". Bloomberg in February of 24 Economists survey, there are 10 forecasts that China will raise interest rates before the end of the year.