Tuesday, January 26, 2021 | ePaper

China consumer prices rise in Dec ahead of Lunar New Year

  • Print
AFP, Beijing :
China's consumer prices rebounded in December, official data showed Monday, as food prices picked up due to weather difficulties and rising demand ahead of the Lunar New Year festival.
In December, the consumer price index (CPI) rose more than expected at 0.2 percent on-year, said the National Bureau of Statistics, with prices increasing for fresh produce and meats such as pork, beef and mutton ahead of next month's nationwide holiday.
"Due to continued low temperatures, the production, storage and transportation costs of fresh vegetables and fruit increased," said NBS senior statistician Dong Lijuan. The index is a key gauge of retail inflation, and the rebound follows the first negative reading in over a decade last month as food costs fell.
On Monday, Dong said that consumer demand was picking up due to New Year's Day and the upcoming Lunar New Year, bumping up prices of other food items.
But pork prices, which rocketed previously after an African swine fever outbreak ravaged pig stocks, continued to drop by 1.3 percent on-year last month as supplies of the staple meat recovered.
For the full year of 2020, consumer prices rose 2.5 percent on-year.
"The pork price cycle continues to weigh on the inflation outlook," said Zhaopeng Xing, senior China strategist at ANZ Research in a recent report, saying there had been a faster-than-expected recovery of hog stocks.
Meanwhile, the producer price index (PPI) which measures the cost of goods at the factory gate, fell 0.4 percent on-year last month - better than November's 1.5 percent drop. "Domestic demand recovered steadily, coupled with the continued rise in prices of some international commodities," said Dong. For the whole of 2020, PPI fell 1.8 percent on-year.

More News For this Category

Aziz Al Kaiser, Chairman of City Bank Limited, inaugurating its relocated Gulshan Branch at Gulshan-1 on Monday. Mashrur Arefin, Managing Director & CEO, Sheikh Mohammad Maroof, AMD and other high officials of the bank were also present.

Aziz Al Kaiser, Chairman of City Bank Limited, inaugurating its relocated Gulshan Branch at Gulshan-1 on Monday. Mashrur Arefin, Managing Director & CEO, Sheikh Mohammad Maroof, AMD and other high officials of the bank were also present.

Number of loan defaulters  334,982 : Kamal

Number of loan defaulters 334,982 : Kamal

Business Desk :Finance Minister AHM Mustafa Kamal has said there are 334,982 loan defaulters in banks and other financial institutions in Bangladesh at present.Kamal highlighted the steps taken by the

Private sector credit growth far from target

Business Desk :The country's economy will turn around based on two factors - remittances and private sector credit growth. Although the recently-released Monetary Policy Review report of the central bank

DSEX dips below 5,800-mark as investors continue profit booking on sector-wise issues

Business Desk :Stocks extended the losing streak on Monday, with the key index of the major bourse dipping below 5,800-mark, as cautious investors continued their profit booking on sector-wise issues.DSEX,

Md. Nazrul Islam Mazumder, Chairman of EXIM Bank Limited, presiding over its 'Annual Business Development Conference 2021' held at its head office in the city Sunday. Dr. Mohammed Haider Ali Miah, Managing Director and CEO and other high officials of the bank were also present.

Md. Nazrul Islam Mazumder, Chairman of EXIM Bank Limited, presiding over its 'Annual Business Development Conference 2021' held at its head office in the city Sunday. Dr. Mohammed Haider Ali Miah, Managing Director and CEO and other high officials of the bank were also present.

Murad Ahmed, Senior Coordinator of Community Engagement along with Srinibash Chandra Nath, Senior Coordinator of Government Affairs & Social Investment of Chevron Bangladesh, poses for photograph with the scholarship awardees students, guardians and principal of a local high-school located near the Bibiyana Gas Plant recently.

Murad Ahmed, Senior Coordinator of Community Engagement along with Srinibash Chandra Nath, Senior Coordinator of Government Affairs & Social Investment of Chevron Bangladesh, poses for photograph with the scholarship awardees students, guardians and principal of a local high-school located near the Bibiyana Gas Plant recently.

BD allows travel agencies to open branches abroad

Business Desk :The parliament has approved an amendment to the existing law to allow travel agencies to shift their ownership and open branches at home and abroad.State Minister for Civil

FBCCI and MIT Solve launch Virtual Solveathon

Business Desk :The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in partnership with Massachusetts Institute of Technology (MIT) Solve will be hosting a virtual Solveathon on Saturday to

Chevron awarded scholarship to 849 students

Business Desk :As a part of its ongoing annual scholarship program for financially disadvantaged, meritorious students, Chevron Bangladesh has awarded scholarships to 849 students from 23 educational institutions near Chevron's

Exim Bank’s annual business dev confce held

Business Desk :Exim Bank Limited held its annual business development conference of 2021, virtually, on Sunday. The conference was conducted from the bank's head office. Md Nazrul Islam Majumdar, chairman