App

Central Bank:China's inflation to ease in rest of year
Updated: March 22, 2020 21:55 Xinhua

BEIJING — With the novel coronavirus disease (COVID-19) outbreak being kept under control and market supplies improving, consumer inflation in China is likely to ease in the following quarters, a vice-governor of the central bank said on March 22.

Chen Yulu, vice-governor of the People's Bank of China, told a press conference that although the COVID-19 outbreak's impact on consumer prices will still continue for a while, he expects the overall inflation to decline quarter by quarter as production resumes.

China's consumer price index (CPI), the main gauge of inflation, grew 5.2 percent year-on-year in February, slightly down from the 5.4-percent gain in January.

Chen said price stability is largely subject to the economic fundamentals, and China's overall balance of supply and demand and stable macro-economy does not support long-term inflation or deflation.

The vice-governor said the central bank will pay attention to the flexibility and appropriateness when implementing the prudent monetary policy to strike a balance between ensuring growth stability, preventing risks and containing inflation.

Copyright© www.gov.cn | About us | Contact us

Website Identification Code bm01000001 Registration Number: 05070218

All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to www.gov.cn.

Without written authorization from www.gov.cn, such content shall not be republished or used in any form.

Mobile

Desktop

Copyright© www.gov.cn | Contact us

Website Identification Code bm01000001

Registration Number: 05070218