Vegetable prices help CPI cool in China
CPI’s full-year growth of 2 percent was faster than the 1.4 percent rise in 2015 but below the official target of 3 percent. The cooler consumer inflation was attributed to a slower rise in prices of green vegetables.
Food prices added 2.4 percent in December, lower than the 4 percent gain in November, and prices of green vegetables rose by a slower 2.6 percent, compared with the 15.8 percent jump in November.
Wang Tao, UBS China economist, predicted PPI to continue to rise this year while consumer inflation is likely to hit a milder 2.3 percent.
source: shanghaidaily.com
