11 May 2012 06:28 [Source: ICIS news]
The country’s producer price index (PPI), which is a gauge of wholesale prices, declined by 0.7% year on year, hitting a low since January 2010, NBS data showed.
China’s CPI in the second and third quarters are expected to keep sliding, before rebounding in the fourth quarter, said the chief economist at China’s Bank of Communications, Lian Ping.
“We forecast the average CPI growth in 2012 will be at around 3.3%,” added Lian.
The People's Bank of China, the country’s central bank, said
The downtrend in the economic growth figures were influenced by the country’s macro policies which were aimed at stabilising growth and restructuring the economy, said the deputy dean of the
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