China’ s Commerce Ministry says consumer prices to drop as supplies improve

February 28, 2020

BEIJING - China's State newsagency Xinhua is quoting the Ministry of Commerce as saying that consumer prices in China are going to stabilise and fall as market supplies improve and multiple Government measures pay off.

Xinhua quotes an official with the Ministry as saying that he expected consumer prices to top out as a result of increased supplies of major farm products and the implementation of supportive policies such as tax cuts and logistics facilitation.

Strong demand around the Spring Festival holiday, higher costs during the (coronavirus( epidemic, and high pork prices had pushed up the CPI level, he said. (ATI).