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Sichuan earthquake likely to aggravate domestic inflation
31 May '08
3 min read
According to available statistics, in 2007, consumer price index(CPI) of China rose to almost 4.8 percent. By the year end, in order to keep a check the rising inflation, the central government set anti-inflation as the primary task of macroeconomic regulation and control.
In the period from January to April, this year, China's CPI rose 8.2 percent and prices of grain, oil, iron ore, and others showed a considerable rise in the international arena as well.
To further add to the woes, heavy snowfall early this year added fuel to the fire and now this earthquake has joined forces to put a huge pressure on the country which is already saddled with the burden of inflation.
After a close observation market researchers emphasize that it is impossible to see a slowdown of CPI growth in recent period.
In the period from January to April, this year, China's CPI rose 8.2 percent and prices of grain, oil, iron ore, and others showed a considerable rise in the international arena as well.
To further add to the woes, heavy snowfall early this year added fuel to the fire and now this earthquake has joined forces to put a huge pressure on the country which is already saddled with the burden of inflation.
After a close observation market researchers emphasize that it is impossible to see a slowdown of CPI growth in recent period.
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