Bank forecasts August CPI to record New Year

According to the survey by the Ministry of Agriculture and the Ministry of Commerce, the Financial Research Center reported 1st that China's overall food prices have been on a continuous rebound since August, with a comprehensive judgment that the CPI was expected to rise between 3.3% and 3.7% per cent year-on-year, with a median rate of 3.5% per cent in August.　　, the increase will be more than July's 3.3% again to create a new Year's record. The report says inflationary pressures will gradually ease in the second half of the year. The CPI is expected to peak in the three quarter, and the CPI will then peak. However, structural upward pressures, including seasonal increases in food prices, wage increases for workers, and price adjustment for resource products, will remain in place for a long time. At the same time, not excluding structural upward pressure in some period of the year highlighted, which makes the second half of the price rise and fall in the range are limited, the CPI will be generally in a moderate rise. The report maintains the annual CPI rise as a 2.5-3% between the estimated 3% of the year's price target is expected to be achieved. (Gao Chanfang)