(Bloomberg) -- China’s consumer prices rose less than expected last month, adding to signs policymakers are struggling to get households spending as the...
-- China ’s consumer prices rose less than expected last month, adding to signs policymakers are struggling to get households spending as the annual growth target comes under pressure.The consumer price index increased 0.6% from a year earlier, the National Bureau of Statistics said Monday. That compares with an increase of 0.5% in July and a median forecast of 0.7% in a Bloomberg survey of economists.
“In August, affected by high temperature, rainy weather and other factors, the national CPI rose seasonally from the previous month, and the year-on-year increase continued to expand,” Dong said in a statement accompanying the release. “Overall we have the problem of weak domestic demand, especially on the consumption and investment side, so that needs proactive fiscal policy and accommodative monetary policy,” Yi said at the Bund Summit in Shanghai on Friday.The People’s Bank of China still has space to cut interest rates, according to Zou Lan, the central bank’s monetary policy department head who noted last week that the average reserve requirement ratio for financial institutions is at about 7%.
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