China No solar water heater vember consumer inflation eases to 2.4%
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China November consumer inflation eases to 2.4%Published: 14 Dec 2008 23:54:07 PSTChina’s consumer price index (CPI), the main gauge of inflation, rose at a slowing annual rate of 2.4 percent in November, the National Bureau of Statistics (NBS) said here on Thursday. Rises in the CPI have now slowed for seven straight months because of a sharp fall in world commodity prices and sluggish demand amid the global financial crisis. The CPI figure, compared with 4 percent in October, 4.6 percent in September, 4.9 percent in August and a nearly 12-year-high of 8.7 percent in February, was broadly in line with most forecasts. It was the smallest CPI increase since January 2007, which saw the index rising by 2.2 percent at an annualized rate. Food prices, which account for more than a third of the CPI calculation and have been the main driver of inflation since last year, climbed 5.9 percent in November from a year earlier, down from 8.5 percent in October and 9.7 percent in September. Prices of non-food items, the other two-thirds of the CPI calculation, edged up 0.6 percent last month, said the NBS. From January to November, the inflation indicator rose 6.3 percent year-on-year, 6.0 percent for urban areas and 6.9 percent for rural regions, the NBS said. SLUMPING DEMAND Zuo Xiaolei, China Galaxy Securities chief economist, said the inflation reading last month was within expectations. ”The price of food rose just by 5.9 percent last month. In previous months, it jumped by as much as 10 to 20 percent. The rise in food prices has decelerated significantly,” she told the Chinese financial website Hexun.com. ”In addition, the influence of a tail-raising factor is insignificant. It has something to do with previous policy adjustments,” she said. The ”tail-raising factor” refers to a basis of comparison. An unusually large or small figure can make subsequent changes appear better or worse by comparison. China experienced inflationary pressure between late 2006 and early this year, which forced the government to take steps to curb inflation. In 2007, the CPI rose 4.8 percent. Zuo said that in recent months, lower world prices of commodities and raw materials such as crude oil, corn and soybeans, which resulted in a lower producer price index (PPI), also kept down the CPI. The NBS said Wednesday that China’s PPI, a measure of inflation at the factory gate, decelerated sharply to an annual rise of 2 percent in November. It was the slowest pace of increase in the PPI since May 2006. Weaker investments and demand also restrained inflation, Zuo said. Zhang Yansheng, director of the International Economic Research Institute, which is part of the National Development and Reform Commission, echoed those views. Both international and domestic demand were falling quickly amid the global financial crisis, he told Xinhua. In addition, the tight economic policies pursued before the financial crisis were having a delayed impact that has coincided with the global downturn, he said. Continuously weakening demand over the past several months was showing up in the data, he added. On Wednesday, the General Administration of Customs said exports totaled 115 billion U.S. dollars last month, down 2.2 percent year-on-year in the first monthly decline since June 2001. Sharp declines were recorded on the import front last month. Imports were worth 75 billion U.S. dollars, down 17.9 percent year-on-year and down 19.5 percent month-on-month. November’s total trade volume stood at 189.89 billion U.S. dollars, down 9 percent year-on-year, customs figures showed. DEFLATION LOOMS? Zuo, of China Galaxy Securities, forecast that China’s CPI would edge down further in December because there would be no ”tail-raising factor” this monlithium 3.6V battery 現金化 比較 原油 弹簧 铝合金升降机 网络电话 上虞风机 芦荟 キャバクラ 大阪 实验室家具