‘Second-half outlook stable’ for China consumer prices despite brewing trade war with US
Pig production and grain and edible oil stocks at relatively high levels, Beijing’s economic planner says
China’s consumer prices are likely to be stable in the second half of the year, the state planner said on Saturday, soothing concerns that have grown amid China’s escalating trade dispute with the United States.
“The market in general thinks the macro environment is stable and market supply is sufficient,” an official at the pricing department of the National Development and Reform Commission said in comments published on the agency’s web.
“The overall price level will continue to stabilise and it’s unlikely that prices will rise significantly.”
Annual consumer inflation in the world’s second-biggest economy held steady in May from the previous month, as food prices remained largely stable, official data showed earlier this month.
But the remarks come amid escalating trade tensions with the United States, fuelling worries over upward pressure on China’s consumer price index.
