Economy

China's full-year inflation target of 3% attainable

(Xinhua)
Updated: 2010-09-14 16:07

TIANJIN - China could meet the full-year inflation target of 3 percent if macro-control policies were effective, a senior economic planner said Tuesday at the World Economic Forum's annual Summer Davos meeting.

Summer Davos 2010 in Tianjin Related readings:  Inflation highest in nearly two years China's full-year inflation target still attainable  Central bank says 3% inflation goal in reach  NDRC: Inflation to moderate after October

"China has paid high attention to managing inflation expectations by stepping up macro-controls this year," said Zhang Xiaoqiang, deputy director of the National Development and Reform Commission.

"If managed well, the full-year target of consumer price index of around 3 percent is still attainable," he said.

The CPI climbed to a 22-month-high of 3.5 percent in August because of rises in food and fuel prices and a low comparison base.

Food prices are likely to remain within reasonable range after macro-control and there is still room for industrial products to fall due to heated competition, Zhang said.

The chance is also small for import prices of commodities to experience a dramatic rise again in the rest of the year after earlier retreating, he said.