China’s inflation rate will moderate in the fourth quarter and the trend of rising prices has been effectively curbed, National Bureau of Statistics spokesman Sheng Laiyun said in Beijing today.
Moderating economic growth, tightened liquidity, a good grain harvest and falling global commodity prices are all helping to ease inflationary pressure, he said at a briefing to discuss China’s third-quarter economic data.
Even so, inflation is still relatively high, Sheng said. Pressure from imported inflation remains and some long-term factors influencing prices will persist, such as higher labor and resource costs, he said.
The decline in the value of some currencies has increased currency risks for China’s exporters and added to their costs, he said.
— With assistance by Nerys Avery