Pick up in China's CPI Likely Reduces Urgency to Cut Rates
Dow Jones
Sep 09
0314 GMT - China's consumer inflation accelerated to 0.8% on year in August from 0.5% in July, giving policymakers more room to maneuver and reducing the urgency for near-term interest-rate cuts, says Xing Zhaopeng, an economist at ANZ. Policymakers are likely to focus on supply-side reforms, including efforts to curb excessive competition and reforms to public-service pricing, Xing says. He expects China's consumer inflation to reach another peak later this year, with headline CPI averaging 1.2% for the year.
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