第5组小组成员：陈剑鸿 黄东东 熊俊成 陈文周 陈婷.ppt

China Inflation Eases To 5.5%, Policy Change Caution Urged Chinas consumer price index, the main gauge of inflation, rose 5.5 percent year-on-year in October, weakening from Septembers 6.1 percent, the National Bureau of Statistics (NBS) said on Wednesday. The October CPI growth marked the slowest surge since May this year, softening from 6.1 percent in September, 6.2 percent in August, 6.5 percent in July and 6.4 percent in June. The October CPI data showed that the governments price control efforts have started to pay off, said Zhang Liqun. Zhang said the slowing price increases will create favorable conditions for the country to fine-tune its monetary tightening policies, although inflationary pressure will remain due to a large outstanding broad money supply (M2). By the end of September, the gross M2 still stood at 78.74 trillion yuan ($12.4 trillion), about 1.8 times larger than Chinas gross domestic product. In 2008, it was only 1.54 times larger than the GDP, Zhang said. The size of the money supply remains huge and policymakers should be careful about (loosening) the monetary policy and not ignore its potential for boosting prices, he said. It is a critical moment for the countrys macroeconomic control policies and we cant be too careless in loosening the policies. Prior to the NBS announcement, many economists expected the October CPI to rise by 5.4 percent year-on-year. Over the next two years, the average inflation rate will fall to between 2.8 percent and 4 percent but the government should be vigilant in countering inflation risks in the medium and long term. On a monthly basis, the cost of living in October was still 0.1 percent higher than September, although it was still lower than the 0.5 percent month-on-month growth in September, according to the NBS. consumer price index 消费者物价指数 If you wanted to have a real frame, then you would consider the consumer price index or some other inflation index. 如果你想以实物框架理念来看的话，你就得将消费物价指数或者,其它通胀指数考虑在内。 gauge n. 计