Bank forecasts July CPI growth of about 3.5% per cent

The report, published August 4 by the Bank of Communications finance research, said the CPI was expected to rise by about 3.5% per cent year-on-year in July.　　The center believes that, according to the Ministry of Agriculture and the Ministry of Commerce monitoring data, since July this year, domestic food prices overall in the process of continuous recovery, comprehensive judgment, the July CPI is expected to increase year-on-year growth between 3.3% to 3.7%, take the number of digits, forecast July CPI year-on-year growth of 3.5%, will create a new　　The center believes that, although prices may still rise in the short term, but as prices drop more factors, the second half of inflationary pressure will gradually reduce, after three quarter CPI, PPI will peak down. However, the paper noted that structural upward pressure, including rising food prices and price adjustment for resource products, would remain in place for a long time, without excluding structural upward pressure from some periods of the year. This led to lower prices in the second half of the overall moderate, limited range. As a result, the center expects annual CPI inflation to be 2.5-3%, with a 3% annual price target to be achieved.