CPI decline narrow inflation expectations should not be too much to read

Shanghai, November 11 (Xinhua): CPI Decline narrowed "inflation expectations" should not be too much interpretation of the National Bureau of Statistics released 11th, the latest data show that October China's CPI year-on-year decline of 0.5%, compared to the last month, the decline of 0.3%; Although CPI is still "negative", the market's expectations of inflation have increased.　　Experts believe that there is no real inflation in China, inflation expectations on the one hand from the loose monetary policy, on the other hand, from the rise in international commodity prices caused by imported inflationary pressure. CPI year-on-year Chain "double drop" 9th more than 11 o'clock in the evening, in the platoon nearly half an hour after the team, Shanghai white-collar liqing finally filled the car with oil. From November 10 0 o'clock, the national price of steam and diesel increased by 480 yuan per ton. In Shanghai, as a result of the full implementation of cleaner Shanghai IV refined oil, 93rd gasoline per litre retail price increase to 6.61 yuan.　　This means that the private car fuel tank 60 liters For example, liqing for a period of time after each add a carton of oil than the price before the increase of 42 yuan. Earlier, Shanghai taxi prices on average up about 10%, and a number of cities held an increase in water price hearings. "Everything Is rising!"　　"Become more and more people sigh. This is the hidden shadow of inflationary expectations.　　But in fact, the National Bureau of Statistics released 11th, the statistical data show that October China's CPI fell 0.5%, compared to last month's decline of 0.3%; "Our country is moving steadily out of the deflationary zone. Chen Lu, chief analyst at Haitong Securities Macro Research Department, said that although residents ' inflation expectations are increasing, they are not yet translated into real inflation.　　Because of the obvious oversupply of real estate, there is no big inflation threat in our country. Industrial Bank economist Lu Commissar said that as the economic recovery trend to establish, faster growth, inflationary pressure will gradually become dominant. The trend of price recovery has been established, 2010 China's prices will return to the rising track, the annual CPI is expected to rise in the year 3.5%.　　But from the data analysis, this year to the first half of next year, China will not face the real inflation problem. The two main stressors of inflationary expectations are that real prices are still low, but why are inflation expectations strong?　　The interview found that inflationary expectations on the one hand from loose monetary policy, on the other hand, also from the depreciation of the dollar caused by international commodity prices, import inflation pressure increased. According to the basic view of the monetary doctrine, the essence of inflation is the monetary phenomenon. Since this year, due to the need for growth, China's credit growth. By the end of October, the narrow money supply (M1), the broad money supply (M2) year-on-year growth of 32.03% and 29.42% respectively, currency liquidity significantly increased.