February to see CPI fall close to 3%

Updated: 2012-02-14 15:30

(chinadaily.com.cn)

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China's Consumer Price Index (CPI) growth is expected to drop below 4 percent, or even somewhere close to 3 percent in February despite a minor rebound at the start of 2012, New Express Daily reported Tuesday, citing a government official.

Food prices including pork and vegetables are found to be falling in the last two weeks, which may result in an obvious decrease in CPI growth in February, said Zhou Wangjun, vice-director of the Price Department of the National Development and Reform Commission, on Monday.

But Du Zhengzheng, macro-economy analyst of China Development Bank Securities, thought it unlikely for CPI to rise less than 3.5 percent in February. Against the general falling trend, the rebound pressure of prices remains, Du said.

CPI is predicted to rise by 2.8 percent in July, the lowest growth rate of 2012, he said.