According to the monthly statistics released on August 13 by the National Bureau of Statistics of China, in July, the consumer price index (CPI) rose by 6.3 percent over the same period of the previous year; the increase range fell 0.8 percent from that in June. This is the third consecutive monthly decline since May. Lu Zhongyuan, Vice President of the Development Research Center of the State Council (DRC) said that the measures employed to control continued rising prices have delivered: the trend of rising prices has weakened.
Starting from May this year, the increased range of CPI fell back to 7.7 percent, and fell further to 7.1 percent in June. The analysis demonstrates that the CPI was expected to fall in July; and the decline in food prices was the largest factor. As food prices fall further, so will the CPI. In July of last year, China's CPI rose 5.6 percent over the same period of the previous year. Then, the CPI rose, broke 6 percent, 7 percent and 8 percent, and reached 8.7 percent in February of this year.
By People's Daily Online
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