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NBS: CPI stable on the whole

2010-04-16 09:17 BJT

The latest data from the National Bureau of Statistics show that CPI grew for three straight months this year. Some are concerned that inflation has already started up, but a spokesman for the Bureau believes CPI will be within 3 percent for the whole year.

The National Bureau of Statistics show CPI climbed 2.4 percent in March, and 2.2 percent in the first quarter. A spokesman says prices in China are stable on the whole.

Li Xiaochao, Spokesman,National Bureau of Statistics, said, "The tail raising factor is important. Within the 2.2 percent growth in the first quarter, 1 percent was from raising tail factor. Meanwhile, severe weather also pushed up prices of vegetables and fruits. The whole year CPI target is around 3 percent. It's hard to realize from the current situation, but we will exert every effort to achieve it."

Li says food prices contributed the most to the first quarter's CPI growth, accounting for nearly three-fourths.

International large-scale commodities prices also increased inflation pressure in China. Data shows that world energy prices surged more than 50 percent in the first quarter year on year, and prices for metal and mine products soared more than 60 percent.

Another threat to CPI is rising labor costs across the country.

Editor: Du Xiaodan | Source: