International Law

CPI predicted to rise 7.5 percent in January

By Andy Scott

Jan. 18 - The Bank of China forecast a minimum 7.5 percent rise in the January Consumer Price Index (CPI), mainly fuelled by rising food prices and the worst winter weather in decades.

The bank said in a report issued Friday that the CPI would rise between 5 to 7 percent in the first half this year, and decelerate to 3-4 percent in the latter half. The yearly CPI increase for 2008 would stay at the same 4.8 percent as that of last year according to the report.

According to Xinhua, the bank predicts that the yearly GDP growth would be 10 percent in 2008, less than the 11.4 percent for 2007. (more…)

Full post as published by China Briefing Blog on February 18, 2008 (boomark / email).