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CPI expected to rise 4% in 2004

www.chinanews.cn 2004-12-10 15:29:25

Chinanews, Beijing, Dec.8 (By Yu Jingbo) - Ma Kai, director of the
National Development and Reform Commission (NDRC) said at the conference
for national development and reform on December 8 that he expected the
consumer price index to rise 4% in 2004. To maintain a relatively stable
CPI is going to be a significant economic task for next year.
According to the latest statistics cited by Ma Kai, November CPI rose at
a slower pace of 2.8% year-on-year, 0.3 percentage points lower than the
previous month. Based on the statistics from the first ten months, Ma Kai
predicted that CPI would rise 4% in year 2004, 3.8-3.9% to be precise.
As for his outlook on next year��s CPI, the director said that there was
increasing inflationary pressure, with manufacturing materials bearing
the brunt of rising prices.
Stable prices will be a key economic task for the government next year.
Ma Kai added that the fundamental price stabilizers would include curbing
the overly rapid growth of fixed-asset investments, rational control of
money supply, and maintaining the balance between the supply and demand
of grain and important factory materials. Moreover, as one of its
strategies to stabilize prices, China would strengthen control without
imposing any price increase.

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