A supermarket in Nanchang city (Xinhua)
Guangzhou's Consumer Price Index (CPI), a main gauge of inflation, rose 1.5% month-on-month in January. Compared to January 2010, the CPI has increased by 5.8%, 0.9% higher than the national level, which was announced yesterday by the National Bureau of Statistics (NBS) yesterday (February 15th).The record high CPI was blamed on the cold weather felt across China pushing food prices up and the rise in interest rates before Spring Festival.
Although China's CPI is lower than expected, economists warn that China is still faced with increasing inflationary pressures.In the Guangzhou's markets, the price of rice and flour has increased about 5%. However, the National Development and Reform Commission (NDRC) has promised to insure that food supplies are sufficient and that prices remain under control.
