Source: CCTV.com

05-01-2008 11:38

The National Bureau of Statistics has released a chart showing macro economic performance in China over the last year. One point of concern was the Consumer Price Index, which has been climbing steadily for seven consecutive months.

Five colors are used in the chart to indicate how different aspects are doing. These include red, yellow, green, light blue and dark blue.

Wang Yuanhong, Official of State Information Center said "The yellow light indicates that the consumer prices have been relatively high."

China's CPI has jumped from 6.2 percent in September, 2007 to 8.3 percent this March. The price surge was mainly due to rising prices in farm produce as well as big spikes in global crude oil prices.

Wang Yuanhong said "This round of price increases is relatively moderate. If you look at economic growth rates in 1988 and 1992, the price spikes during those periods were more serious than price rises now, in the context of recent growth rates."

Meanwhile, insiders say the government is giving priority to curbing further price increases and inflation. It is making efforts to increase the supply of agricultural produce, while stepping up subsidies to grain farmers, as well as low-income families. The consumer price index is expected to fall in the second half of this year.

 

Editor:Xiong Qu