China’s consumer prices exceeds estimates in May . . . . . . . . . . Consumer prices rose in the world’s second largest economy to exceed estimates in May recording its fastest inflation pace in four months, where the increase came on food costs. Moreover, China’s Consumer Price index inclined more than estimated in May to 2.5%, from 1.8% a year earlier, while analysts’ estimated were 2.4%. PPI in China slightly inclined in May to -1.4% from estimated -1.5%, while the previous reading recorded -2.0% a year earlier. Meanwhile, inflation rates still under the governmental target of 3.5 percent, which may leave the room for policymakers to add more monetary easing to spur the nation’s economic growth. Furthermore, Chinese economy is projected to grow this year at the slowest pace since 1990, while Premier Li Keqiang is resisting broad stimulus and boosts efforts to spur agriculture and small businesses since he managed to cut banks’ reserve requirements. From another side, Chinese economy is expected to record an actual expansion of 7.3 percent this year, down from a previous expansion of 7.7 percent last year and compared with a government target of 7.5 percent. #egyptyard
Posted on: Tue, 10 Jun 2014 09:43:34 +0000
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