April 18, 2022 04:50 GMT
MNI BRIEF: China CPI May Rise Mildly On Higher Import Costs
MNI (Beijing)
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China's consumer prices may rise moderately in the next few months on higher costs of imported goods, supply shortages caused by the pandemic and the ongoing conflict in Ukraine, Fu Linghui, a spokesman of the National Bureau of Statistics, said at a press briefing on Monday.
March CPI was 1.5% y/y, almost entirely due to higher costs of vegetables and energy, according to Fu.
Global commodity prices are likely to remain elevated as demand outpaces supply and as the conflict in Ukraine keeps shipping costs high, he said. Still, inflation can be limited as China's consumption and investment are still recovering, and China has large stockpiles of commodities and intervenes to prevent excessive commodity price gains, Fu said.
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