China inflation slows to 2.1% in May– gov’t
China’s inflation slowed to 2.1 percent in May year-on-year from 2.4 percent in April, official data showed Sunday.
China’s inflation slowed to 2.1 percent in May year-on-year from 2.4 percent in April, official data showed Sunday.
Consumer prices remained tame in May despite a robustly growing economy, with the government optimistic that the favorable combination of modest inflation and brisk economic expansion will be sustained.
The Bangko Sentral ng Pilipinas on Thursday said inflation would remain well within the official target of 3-5 percent this year and in 2014.
Private sector economists polled by the Bangko Sentral ng Pilipinas shared the same view as the BSP’s that the country would continue to enjoy modest and within-target inflation until 2015.
World stock markets were mostly lower Thursday as investors weighed an interest rate cut in South Korea against rising inflation in China.
Inflation in April settled at its slowest pace in 13 months as the decline in fuel prices tempered the increase in the cost of other commodities and favorable farm output boosted the supply of some food products.
Increases in the prices of consumer products were expected to have slowed down in April, given the decline in oil prices and the improvement in the production of certain food products.
The country’s inflation is expected to accelerate this year due to rising demand for goods and services, and potential disruptions in the supply of some food products.
US stocks took their cue from international markets Tuesday and moved higher following news of slowing inflation in China.
China’s inflation declined in March, easing pressure on consumers but fueling questions about the strength of its recovery.
The rise in consumer prices eased to 3.2 percent year-on-year in March from 3.4 percent in February amid slower price increases in the heavily weighted food and non-alcoholic beverages as well as utilities and fuels, household goods and transportation and communication, the National Statistics Office announced Friday. The comparative figure for March last year was from 2.6 percent.
The Bangko Sentral ng Pilipinas said consumer prices were seen to have kept a modest rate of increase in March, given a favorable food supply and lower domestic oil prices.
