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Xinhua Silk Road
Economy

China's 2021 CPI growth expected to stay below 2 pct: central bank governor

June 11, 2021


Abstract : China's average consumer price index (CPI) growth for the year 2021 is expected to stay below 2 percent, Yi Gang, governor of the country's central bank, said Thursday.

A staff member arranges products at a supermarket in Handan City, north China's Hebei Province, June 9, 2021. (Photo by Li Hao/Xinhua)

SHANGHAI, June 10 (Xinhua) -- China's average consumer price index (CPI) growth for the year 2021 is expected to stay below 2 percent, Yi Gang, governor of the country's central bank, said Thursday.

Judging from various factors, the country's CPI remained low in the first couple of months but will likely trend higher, Yi said at the 13th Lujiazui Forum in Shanghai.

Considering that China's economy is operating within a reasonable range and nears the potential output level, the price trend is under control, Yi said, adding that the central bank will continue to implement a normal monetary policy to ensure stability.

China's CPI rose 1.3 percent year on year in May, while average CPI in the first five months of the year went up 0.4 percent from the same period last year, data from the National Bureau of Statistics showed Wednesday.

The country has set its consumer inflation target at around 3 percent for the year 2021, according to this year's government work report. Enditem

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Keyword: CPI

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