BEIJING - China's central bank on Wednesday warned of inflationary pressure, saying theinfluence of rebounding demand, labor supply changes and global monetary easing on pricesmust be watched closely.
The recovery in the economy and in demand may translate into consumer price movements veryquickly and "particular attention needs to be paid to the effect of changing expectations on futureprices," the People's Bank of China (PBOC) said in its quarterly monetary policy report.
"During the stage of economic transition, the prevention of inflation risks should always be ahighlight in financial macro-control," the report said.
The remarks came after China's inflation rate ticked up in the past few months as the country'seconomy ended a seven-quarter slowdown and accelerated to a 7.9 percent year-on-year growthin the fourth quarter of 2012.
The consumer price index (CPI), a gauge of inflation, grew 2.5 percent year on year in December2012, up from 2.0 percent in November and 1.7 percent in October.
The National Bureau of Statistics is expected to release the January CPI figure later this week.
Updated: 2013-02-07 09:38
( Xinhua)
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