CPI Consumer Price Index News
- SZ August CPI climbs to year's highest
Date: 17-Sep-2007 Sources: (Shenzhen Daily)
SHENZHEN'S consumer price index (CPI) rose 4.7 percent in August compared with a year ago, the highest increase so far this year, the local statistics bureau announced Thursday.
Food prices recorded the highest increase of 10.7 percent, while medical care and personal necessities rose 4.8 percent, the second biggest increase.
The rise in pork prices in August reached 6.7 percent compared with July, down 11.3 percentage points from the 18 percent recorded in July, the first reduction since prices began rising early this year. However, the average price of pork has risen a total of 24.1 percent in the first eight months of the year compared with the same period last year.
The bureau contributed the slower increase of pork prices to the local government's efforts but forecast the higher price will remain for a while as supplies can't meet short-term demands.
China's consumer prices rose 6.5 percent in August from a year earlier, after gaining 5.6 percent in July. The figure is the highest since January 1997.
Separately, Shenzhen's housing prices, which are not taken into account in the CPI index, maintained their rapid growth momentum in August.
Shenzhen ranked second of major Chinese cities with 17.6 percent year-on-year increase in its housing prices for new homes in August, according to the National Development and Reform Commission last week.
The average price of second-hand homes grew the fastest at 22 percent, followed by Beijing (10.6 percent) and Zhengzhou (10 percent).
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