摘要
OPINION An Eye on Stagflation The consumer price index(CPI),a major gauge of inflation,rose 1.8 percent year on year in July,the slowest since February 2010, the National Bureau of Statistics said
The consumer price index （CPI）, a major gauge of inflation, rose 1.8 percent year on year in July, the slowest since February 2010, the National Bureau of Statistics said on August 9. The cooling inflation is attributed to three elements. First, inflation is easing worldwide. China＇s CPI growth began dropping after reaching a peak of 6.5 percent in July 2011. As a result of the sluggish economy in the United States and the European Union and continuously slipping international commod- ity prices, global consumer prices also fell in the first half of 2012. Second, the CPI growth in July 2011 is the highest in this round of inflation, making the base number quite large and ending up with a moderate year-on-year increase in July. Finally, we should never forget the contribution of pork prices, which declined 18.7 percent year on year in July, bringing the CPI down by 0.71 percentage points.
