January CPI increase pushes 5% of food into high prices

Statistics released by the National Bureau of Statistics on the 9th showed that the average price of main foods in 50 cities rose in general in late January. Twenty-seven of 29 kinds of monitored foods rose. Among them, prices of cucumbers, beans, and rapeseed rose by 28.2% and 21.9 respectively. % and 14.5%.

The reporter noticed that the statistics bureau had previously announced a sharp increase in food prices in early and mid-January. Of the 29 kinds of food, there were 28 kinds of rises in the early and mid-term. This means that the rising trend of the data for the whole month is clear.

This data undoubtedly preheated the upcoming CPI data. Institutions generally predict that the CPI increase in January will exceed 5%. The move by the central bank to raise interest rates late on the 8th seems to reinforce this expectation.

And throughout the first quarter it is likely to be shrouded in the shadow of high prices.

According to a person from the National Information Center, factors such as rising factor costs, input-type inflation, international hot money inflows, and tightening supply and demand of agricultural products all strengthened during the first quarter, which means that the new price increase factor may be higher than the same period of last year. Level. Driven by the above factors, CPI is expected to increase by about 5% in the first quarter.

However, this person believes that "the current rise in prices is still structural. As long as the policy measures to stabilize prices are put in place, the increase in prices is controllable."

It is undeniable that there are also many factors that inhibit the rise in prices. Analysts pointed out that, first of all, the central bank has raised the deposit reserve ratio and deposit and lending rates and other tightening liquidity several times in the short term; secondly, a seven-year harvest of grain will help stabilize grain and food prices; third, the main material countries The substantial increase in reserves will help strengthen the country's ability to regulate key commodity prices.