选取居民消费物价指数作为通胀债价格指数的可行性分析

The CPI and Inflation-Indexed Bonds

本文比照国外主要国家通胀债价格指数的选取标准,对国内居民消费物价指数(CPI)编制规则、计算方法以及历史走势等进行了深入分析。结论认为居民消费物价指数具备成为通胀债价格指数的基本条件,现阶段在国内债券市场发行通胀债已具备可行性。

Some developed countries have issued bonds indexed to inflation, and this study examines the indexes on which they are based. The article assesses the indexing rules, calculation methodology and the historical trends of the Consumer Price Index in China.The study concludes that the CPI is an appropriate instrument for inflation-indexed bond in China. Furthermore, it contends that issuing such bonds is feasible on China's interbank market.