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China's CPI to rise 3.28% in 2005

www.chinanews.cn 2005-01-17 17:19:00

Chinanews, Jan. 16 - A recent report from the Research Bureau of the
People's Bank of China predicted growth of China's consumer price index
(CPI) to be 3.28% in 2005. Growth of CPI in each quarter was expected to
be 3.8%, 3.5%, 3.2% and 2.7% respectively compared to corresponding
quarters in 2004.
According to the report, price adjustments in public services would
continue to push the CPI higher. Firstly, there would be big pressure to
adjust prices of water, electricity and fuel supply. Secondly, prices of
public services in many places have been set too low and there would be
pressure for price increases in urban transportation, medical services
and tickets to tourist spots.
The report pointed out that the producer price index (PPI) impacts the
CPI in a gradual manner. Changes in the PPI may not lead to prompt, full
scale CPI changes in the short term. However, more than 90% of the impact
would occur within fifteen months and the full effect of the PPI on the
CPI would basically take about twenty months.

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