对我国物价持续保持较低水平的几点思考

On China＇s continuing low CPI

2002年以来，我国强劲的经济增长以及货币供应量增幅回升并没有带动物价的明显上涨。从原因看，近年来我国经济总体供给能力较强，产生需求拉动型物价上涨的可能性很小；企业劳动考报酬的增长低于劳动生产率的增长，限制了工资推进型物价上涨的可能；原材料、能源价格上涨对物价的影响作用在未来将释放得更为充分；政府大力支持农业发展的政策取向。有利于稳定粮食价格；人民币兑美元汇率的提高，有助于降低进口商品的价格。

Since 2002, China＇s dynamic economic growth and rebounding money supply growth didn＇t drive commodity price to move up remarkably, As for the reasons, the strong overall supplying capability of the national economy makes it unlikely to form demand-driven price rise; the pay increment of laborers lower than labor productivity lift dampens the chances of wagepromoted price rise; the impact of increasing material and energy prices upon commodity price will take larger effect in the future; the government＇s policy oriented at supporting agricultural development contributes to a stable food price; and the rising rate of RMB against US dollar helps to cut the price of imported commodities.