Chinese central bank warns of inflation risks

时间：2007-08-10 00:47:02

（单词翻译:单击）

BEIJING, Aug. 9 - China's central bank admitted on Wednesday that the country is coming under increasing pressure from price hikes, and acknowledged inflation risks are "worthy1 of attention".

 

The People's Bank of China said in its second-quarter monetary2 report published on Wednesday that the current rising prices were not solely3 caused by accidental and temporary factors, adding that inflation risks were on the rise.

 

It warned that the price hikes of food products could spread to other consumer products.

 

The report identified four reasons behind the increasing risk of inflation.

 

It said prices for grain and meat products would not fall in the short term and uncertainties4 over the autumn harvest were aggravated5 by the ongoing6 drought.

 

Meanwhile, the demand for grain is increasing from both the public and the bio-fuel industry.

 

The meat prices would probably continue to rise in the long term owing to the rising feeding costs and the short supply, which would not be replenished7 in the short term due to the breeding cycle of pigs, and the price hikes of meat could easily spread to other food products, the report said.

 

Prices of energy and resources are under pressure as the world petroleum8 price has climbed to an even higher level and the domestic pricing reform of resources and the country's environmental protection efforts would also push the prices higher, it said.

 

The report also said labor9 costs were rising which would eventually raise the prices of consumer products.

 

People's anticipation10 of inflation had been enhanced, and it would put further pressure on price hikes, according to the report.

 

A survey by the central bank in the second quarter showed that 40.2 percent of those interviewed, the second highest record since1999, said they were worried about inflation.

 

China's consumer price index (CPI) rose 3.2 percent in the first half of this year, and the growth rate was 1.9 percentage points higher than the year-earlier level.

 

Price hike for foodstuffs12, mainly grain, meat and fowl13 and eggs, contributed significantly to the rise. Statistics show that foodstuff11 prices rose 7.6 percent, with grain price up 6.4 percent, egg price up 27.9 percent and prices for meat and fowl as well as related products up 20.7 percent in the first half.

 
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1 worthy vftwB     
adj.(of)值得的，配得上的；有价值的
参考例句：
  • I did not esteem him to be worthy of trust.我认为他不值得信赖。
  • There occurred nothing that was worthy to be mentioned.没有值得一提的事发生。
2 monetary pEkxb     
adj.货币的，钱的；通货的；金融的；财政的
参考例句：
  • The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
  • Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。
3 solely FwGwe     
adv.仅仅，唯一地
参考例句：
  • Success should not be measured solely by educational achievement.成功与否不应只用学业成绩来衡量。
  • The town depends almost solely on the tourist trade.这座城市几乎完全靠旅游业维持。
4 uncertainties 40ee42d4a978cba8d720415c7afff06a     
无把握( uncertainty的名词复数 )； 不确定； 变化不定； 无把握、不确定的事物
参考例句：
  • One of the uncertainties of military duty is that you never know when you might suddenly get posted away. 任军职不稳定的因素之一是你永远不知道什么时候会突然被派往它处。
  • Uncertainties affecting peace and development are on the rise. 影响和平与发展的不确定因素在增加。 来自汉英非文学 - 十六大报告
5 aggravated d0aec1b8bb810b0e260cb2aa0ff9c2ed     
使恶化( aggravate的过去式和过去分词 )； 使更严重； 激怒； 使恼火
参考例句：
  • If he aggravated me any more I shall hit him. 假如他再激怒我，我就要揍他。
  • Far from relieving my cough, the medicine aggravated it. 这药非但不镇咳，反而使我咳嗽得更厉害。
6 ongoing 6RvzT     
adj.进行中的，前进的
参考例句：
  • The problem is ongoing.这个问题尚未解决。
  • The issues raised in the report relate directly to Age Concern's ongoing work in this area.报告中提出的问题与“关心老人”组织在这方面正在做的工作有直接的关系。
7 replenished 9f0ecb49d62f04f91bf08c0cab1081e5     
补充( replenish的过去式和过去分词 )； 重新装满
参考例句：
  • She replenished her wardrobe. 她添置了衣服。
  • She has replenished a leather [fur] coat recently. 她最近添置了一件皮袄。
8 petroleum WiUyi     
n.原油，石油
参考例句：
  • The Government of Iran advanced the price of petroleum last week.上星期伊朗政府提高了石油价格。
  • The purpose of oil refinery is to refine crude petroleum.炼油厂的主要工作是提炼原油。
9 labor P9Tzs     
n.劳动，努力，工作，劳工；分娩；vi.劳动，努力，苦干；vt.详细分析；麻烦
参考例句：
  • We are never late in satisfying him for his labor.我们从不延误付给他劳动报酬。
  • He was completely spent after two weeks of hard labor.艰苦劳动两周后，他已经疲惫不堪了。
10 anticipation iMTyh     
n.预期，预料，期望
参考例句：
  • We waited at the station in anticipation of her arrival.我们在车站等着，期待她的到来。
  • The animals grew restless as if in anticipation of an earthquake.各种动物都变得焦躁不安，像是感到了地震即将发生。
11 foodstuff HjmxR     
n.食料，食品
参考例句：
  • They handled groceries and foodstuff.他们经营食品杂货。
  • Construct a international foodstuff promotion and exhibition trade center.建成国际食品会展经贸中心。
12 foodstuffs 574623767492eb55a85c5be0d7d719e7     
食物，食品( foodstuff的名词复数 )
参考例句：
  • Imports of foodstuffs accounted for a small proportion of total imports. 食物进口仅占总进口额的一小部份。
  • Many basic foodstuffs, such as bread and milk, are tax-free. 许多基本食物如牛奶和面包是免税的。
13 fowl fljy6     
n.家禽，鸡，禽肉
参考例句：
  • Fowl is not part of a traditional brunch.禽肉不是传统的早午餐的一部分。
  • Since my heart attack,I've eaten more fish and fowl and less red meat.自从我患了心脏病后，我就多吃鱼肉和禽肉，少吃红色肉类。

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