Subscribe free to our newsletters via your
. Space Travel News .




POLITICAL ECONOMY
China inflation accelerates in April: govt
by Staff Writers
Beijing (AFP) May 9, 2013


Inflation in China accelerated to 2.4 percent year-on-year in April, official data showed Thursday, above market expectations, but analysts said counter-measures were unlikely due to weak economic momentum.

Month on month, the consumer price index (CPI) -- a main gauge of inflation -- increased by 0.2 percent in April, reversing a decrease of 0.9 percent in March, the National Bureau of Statistics (NBS) said in a statement.

The annual figure was higher than the median forecast for a 2.2 percent gain in a poll of 13 economists by Dow Jones Newswires.

Authorities said higher vegetable prices in the world's second-biggest economy were responsible for the rise, an increase from 2.1 percent in March.

"The rather large increase in vegetable prices was the main driver of the rise in CPI," said Yu Qiumei, a senior analyst at the NBS, in a statement, adding that unusually cold temperatures and low rainfall across the country were to blame.

China has set its inflation target for this year at 3.5 percent, higher than the actual inflation rate for 2012 of 2.6 percent.

Economists said inflation was expected to remain mild in the coming months, partly due to the sluggish growth momentum.

"Overall inflationary pressures this year should remain abated given that the economy is unlikely to see a strong pick-up in the next few quarters," said ANZ Bank analysts Liu Ligang and Zhou Hao in a research note.

China grew at its slowest pace in 13 years in 2012, with gross domestic product expanding 7.8 percent in the face of weakness at home and in key overseas markets.

There was a rebound to 7.9 percent in the final quarter of 2012, raising hopes of recovery, but in the first three months of this year growth slowed to 7.7 percent.

Authorities were likely to keep policy relatively loose to boost economic growth, which is all important for job creation and social stability, analysts said.

"Chinese policymakers have the room to maintain relatively accommodative fiscal and monetary policies on weak growth and low inflation," said Lu Ting and Zhi Xiaojia, economists with Bank of America Merrill Lynch, in a report.

But major stimulus measures were rather unlikely unless economic growth slid much further, they added.

"We expect no additional stimulus as growth could naturally recover a bit and policymakers can tolerate a lower growth."

Chinese leaders have said expansion will probably slow from the annual near-double-digit increases of recent decades in the next stage of the country's development, partly due to efforts to transform its economic model.

They have vowed to retool the economy to emphasise consumer demand as the key growth driver, rather than investment and exports.

ANZ Bank's Liu and Zhou said tepid inflation provided conditions for Beijing to step up reforms in areas including hiking resources prices, interest rate liberalisation, tax cuts and residency controls.

In the first four months of the year, CPI increased by 2.4 percent year-on-year, the NBS said, unchanged from the reading for the first quarter.

.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








POLITICAL ECONOMY
India's startups lacking guardian 'angels'
Mumbai (AFP) May 8, 2013
It is seen as a land of entrepreneurs, economic growth and huge business potential, but India appears to be failing its promising startup companies which are struggling to find investors. While there is no lack of ideas among the country's vast young population, funding is declining from venture capitalists and rich "angel" investors, as they are known, who are often crucial to a young firm' ... read more


POLITICAL ECONOMY
Angara Rocket Launch Delayed to 2014

ESA's Vega launcher scores new success with Proba-V

European Vega rocket launch delayed due to weather

First of Four Sounding Rockets Launched from the Marshall Islands

POLITICAL ECONOMY
Buzz Aldrin says US must colonize Mars

Landing is key puzzle in Mars trip plans: experts

New analysis suggests wind, not water, formed mound on Mars

India to have five rocket launches, including Mars mission, in 2013

POLITICAL ECONOMY
Northrop Grumman Completes Lunar Lander Study for Golden Spike Company

Scientists Use Laser to Find Soviet Moon Rover

Characterizing The Lunar Radiation Environment

Russia rekindles Moon exploration program, intends setting up first human outposts there

POLITICAL ECONOMY
'Vulcan' wins Pluto moon name vote

Public to vote on names for Pluto moons

The PI's Perspective: The Seven-Year Itch

New Horizons Gets a New Year's Workout

POLITICAL ECONOMY
The Great Exoplanet Debate

NASA's Spitzer Puts Planets in a Petri Dish

Two New Exoplanets Detected with Kepler, SOPHIE and HARPS-N

Astronomer studies far-off worlds through 'characterization by proxy'

POLITICAL ECONOMY
Boeing X-51A WaveRider Sets Record with Successful Fourth Flight

AFOSR-funded research key to revolutionary 'green' spacecraft propellant

Air Force's experimental scramjet aircraft hits Mach 5.1 -- 3,880 mph

SNC's Hybrid Rocket Engines Power SpaceShipTwo on its First Powered Flight Test

POLITICAL ECONOMY
China launches communications satellite

On Course for Shenzhou 10

Yuanwang III, VI depart for space-tracking missions

Shenzhou's Shadow Crew

POLITICAL ECONOMY
Dawn On Route From Vesta to Ceres

Nine-Year-Old Names Target of UA-led NASA Mission

Asteroid Could Fly 8,600 Km From Earth in 2026

Astronomer: Asteroid could make close flyby in 2026




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement