Flat CPI growth unlikely boosts interest raise

时间：2006-12-20 00:14:13

（单词翻译:单击）

Chinanews, Beijing, Dec. 19 – Judging from the overall performance of CPI this year, China’s CPI growth rate has kept at an average level of 1.3-1.4% month by month. It is expected that CPI growth rate for the whole year will not exceed 1.5%. According to European Central Bank, a country will have to raise its interest rate once its CPI growth rate exceeds 2%. Based on this judgment1, it is not likely for China to raise its interest rate at the moment, said Wei Guixiang, head of the Urban Social Economic Investigation2 Department at the National Bureau of Statistics (NBS), according to China Securities Journal.

 

He made the statement while attending a seminar, titled "The Quality of China's Statistics: Its Challenge and Countermeasures", held by Shanghai University of Finance and Economics.

 

According to previous data released by NBS, in last November, Chinese CPI grew by 1.9% over the same period last year, much faster than the 1.4% growth rate in October and hitting a new high over the past 20 months. Some market institutions even said that if housing price raise was included, Chinese CPI growth rate would exceed 5%. The rapid growth of CPI boosts market expectancy3 for an interest rate raise.

 

To Gui, it is inappropriate to include housing price into CPI index. He said that by international practices, housing has always been categorized as a type of fixed4 assets investment rather than a daily consumption commodity. While CPI reflects people's consumption level within a certain month, their expenditure5 on housing purchase will not change every month. So, housing cannot reflect people's changing consumption level and it is not suitable to include housing expenditure when calculating the CPI.

 

In spite of this, Gui said that housing expenditure does take up an increasingly larger proportion of people’s total expenditure. Based on this, he suggested that when calculating CPI, the weighted measurement of consumption goods should be considered and the weighted measurement of housing commodities should be increased in CPI.

 
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1 judgment e3xxC     
n.审判；判断力，识别力，看法，意见
参考例句：
  • The chairman flatters himself on his judgment of people.主席自认为他审视人比别人高明。
  • He's a man of excellent judgment.他眼力过人。
2 investigation MRKzq     
n.调查，调查研究
参考例句：
  • In an investigation,a new fact became known, which told against him.在调查中新发现了一件对他不利的事实。
  • He drew the conclusion by building on his own investigation.他根据自己的调查研究作出结论。
3 expectancy tlMys     
n.期望，预期，（根据概率统计求得）预期数额
参考例句：
  • Japanese people have a very high life expectancy.日本人的平均寿命非常长。
  • The atomosphere of tense expectancy sobered everyone.这种期望的紧张气氛使每个人变得严肃起来。
4 fixed JsKzzj     
adj.固定的，不变的，准备好的；(计算机)固定的
参考例句：
  • Have you two fixed on a date for the wedding yet?你们俩选定婚期了吗？
  • Once the aim is fixed,we should not change it arbitrarily.目标一旦确定，我们就不应该随意改变。
5 expenditure XPbzM     
n.(时间、劳力、金钱等)支出；使用，消耗
参考例句：
  • The entry of all expenditure is necessary.有必要把一切开支入账。
  • The monthly expenditure of our family is four hundred dollars altogether.我们一家的开销每月共计四百元。

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