Friday, December 28, 2012

China consumer price inflation target 2013

World Economic outlook-  China consumer price inflation target 2013, china cpi 2013 :  China consumer price inflation target 2013China is targeting lower inflation growth in 2013, creating room for policy-makers to ease monetary policy further, the official China Securities Journal said Tuesday.

The newspaper cited sources close to policy-makers as saying the central government has set next year's target for consumer price inflation at 3.5%, lower than this year's 4% official target.

"A lower CPI growth target suggests policy-makers are optimistic about next year's inflation conditions...leaving bigger room for monetary easing," the newspaper said.

The official statement marking the end of the Central Economic Work Conference on Sunday didn't include official 2013 targets, though the government is expected to announce an annual growth target of 7.5%, along with the CPI target, at the National People's Congress in early March. Consumer inflation grew just 2.7% y/y during the first 11 months of 2012, with prices only now beginning to tick up as the economy stages a moderate rebound from the mid-year slump.

The statement following the weekend's conference, an annual gathering of senior officials to hammer out policy priorities for the coming year, did suggest that the government will ease policy slightly in the year ahead.

"The government will appropriately expand the size of total social financing and maintain the reasonable growth of bank loans while lowering funding costs for the real economy," it said.

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