Inflation cap a challenge but still achievable, says economist
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The Chinese government's goal to cap inflation at 3 percent this year is hard to achieve but still achievable, said Yao Jingyuan, the chief economist of the National Bureau of Statistics.
The September Consumer Price Index (CPI) rose to 3.6 percent from the previous September. It is the highest rate in 23 months.
The data on individual items that comprise the (CPI) shows that the price of food and property are the main forces driving a rising CPI—contributing 90 percent to its growth.
"Inflation control will center on food and property," he said.
Yao predicted that the October figure will surpass September, because vegetable costs and meat consumption will rise as winter sets in, but he added that the risk of inflation is still remote.
China's business press carried the story above on Monday. China.org.cn has not checked the stories and does not vouch for their accuracy.
