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Consumer prices seen too high in Q4
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More Chinese consumers and factory executives say consumer prices are too high in the fourth quarter while bankers and businesses project confidence in the economy, the central bank said yesterday.
The People’s Bank of China survey revealed that 61.6 percent of urban residents said consumer prices are “high and unacceptable,” up 1.8 percentage points from its third-quarter survey.
Meanwhile, 72.2 percent of residents expect inflation to rise in the future, a gain of 1.7 percentage points from last quarter, the survey showed.
An index measuring raw material prices rose by 1.5 percentage points from last quarter to 57.3 percent, and an index measuring sale prices added 2.1 percentage points to 46.5 percent.
Official data released earlier this month showed that the Consumer Price Index growth in November eased to 3 percent from an eight-month high of 3.2 percent in October. The Producer Price Index, measuring wholesale inflation, shrank 1.4 percent last month, following a 1.5 percent drop in October.
The PBOC survey also found bankers and business entrepreneurs are more confident about the economy.
An index measuring bankers’ economic outlook jumped 7.3 percentage points from last quarter to 38.6 percent, and an index measuring business runners’ outlook rose 2.2 percentage points to 34.7 percent.
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