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Home > News > Valuable News > CPI growth to be within the expected target range in the whole year

CPI growth to be within the expected target range in the whole year

ECHEMI 2020-01-21

On December 17, the national development and Reform Commission held a press conference to introduce the macroeconomic operation and respond to hot issues. Meng Wei, spokesman of the national development and Reform Commission, said that the basic trend of China's economic stability to be good in the medium term and good in the long term has not changed. He is confident and qualified to complete the main objectives and tasks of economic and social development throughout the year. It is expected that the annual CPI increase will be within the expected target range of 3%. Meng Wei, who guaranteed the basic stability of the pork market in the "two festivals", said that the main reason for the year-on-year rise of CPI in November was the rise of pork price, with a direct contribution rate of about 60%; the rise of pork price also led to the rise of other meat prices, such as cattle, sheep and poultry, with a total contribution rate of about 70%. For example, excluding the impact of pork price, CPI operation is relatively stable, especially the core CPI rose only 1.4% year-on-year in the same month. "In general, China's overall price level will remain basically stable for some time to come."

 

According to Meng Wei, recent monitoring data show that the price of pork tends to be stable after the high fall. On December 2, the average retail price of pork (lean meat) in 36 large and medium-sized cities decreased by 10.7% compared with that in early November. Meng Wei said that the national development and Reform Commission, together with relevant departments, will adhere to multiple measures, increase efforts to increase supply and guarantee the minimum, and effectively guarantee the basic stability of the pork market during the "two festivals". First, increase production. Second, increase investment. Third, increase imports. Fourth, we should keep the bottom line of people's livelihood. According to Meng Wei, a scientific and orderly promotion of major projects, the national development and Reform Commission approved 8 fixed asset investment projects in November, with a total investment of 7.1 billion yuan, mainly concentrated in the energy industry. "In the process of promoting transportation infrastructure construction, we will continue to play the decisive role of the market in resource allocation, give better play to the role of the government, promote the formation of accurate and effective investment, resolutely refrain from" flooding ", and advance major projects in a scientific and orderly manner." Meng Wei said that the national development and Reform Commission will speed up the completion of the short board of transport infrastructure in line with the targets set in the 13th five year plan.

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