Beijing, Oct 13: China’s consumer price index (CPI) is estimated to grow by three percent in September compared to the same period last year, according to the country’s Bank of Communications.
The official figures for September’s CPI, a main gauge of inflation, is to be released Oct 14 by the National Bureau of Statistics (NBS), Xinhua reported.
A rebound in prices of vegetables and pork might boost the September figures, as food prices account for nearly one-third of the index, said Tang Jianwei, the bank’s senior economist.
According to the Ministry of Commerce, the prices of farm produce continued to climb in 36 major cities last week, with the price of pork and the wholesale price of vegetables gaining 0.3 percent and 3.2 percent, respectively.
China’s CPI rose 2.6 percent year-on-year in August, down from 2.7 percent in July. The figure remains below the government’s full-year target of 3.5 percent.