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China sees slightly higher prices in 2016

CCTV.com

04-05-2016 16:34 BJT

China will see slightly higher CPI this year, according to the National Development and Reform Commission.

The NDRC said in a statement Tuesday that the overall pricing change in 2016 will be larger than in 2015. The top planner projects that CPI growth will expand this year, while a PPI decrease will gradually narrow and deflation pressures weaken.

The NDRC said some basic necessities will be more expensive, and supplies will be tighter because of curbs on overproducing industries. The NDRC points out that home price moves will diverge in different cities while most agricultural goods will become cheaper.

China’s CPI increased 1.4 percent last year. That was lower than the 2-percent target in the United States, Japan and Europe.

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