China's August CPI forecast at about 1.7 pct

Xinhua
China's consumer price index (CPI) growth for August is expected to be between 1.5 to 1.7 percent, according to the Bank of Communications.
Xinhua

China's consumer price index (CPI) growth for August is expected to be between 1.5 to 1.7 percent, according to the Bank of Communications.

The August CPI, a main gauge of inflation, is due to be released by the National Bureau of Statistics (NBS) on Sept. 9.

A rise in food prices in August may push up CPI growth, as food prices account for nearly one-third of the CPI, said Tang Jianwei, the bank's chief analyst.

Food prices are predicted to have increased by 1.4 percentage points from July, affected by extreme weather during August, Tang said.

In the second half on 2017, CPI growth is expected to be slightly lower than the first half, with little pressure of inflation for the whole year, according to Tang.

CPI growth was 1.4 percent year on year in July, slightly down from June's 1.5 percent, NBS data showed.

Top