?Experts： Inflation target doable：
CHINA can achieve its inflation target this year through proper management of expectations during the final quarter, despite the August inflation rate quickening to a 22-month high, experts said.
The consumer price index, a major gauge of inflation, is expected to peak in September as prices of farm products rise, Fan Jianping, a senioreconomist with the State Information Center, said yesterday.
In August, prices of pork, vegetables and eggs increased 9 percent, 7.7 percent and 8.3 percent, respectively, month on month, according to the National Bureau of Statistics.
Rising labor prices and natural resources costs will help push the September CPI higher, Fan said.
The August price hike of farm products were temporary because they were mainly caused by extreme weather conditions, natural disasters and speculation in several farm products instead of strong industrial demand, CITICS Securities analysts said.
The impact on grain harvests of the natural disasters that hit some Chinese regions this year are manageable, according to Fan Gang, director of the National Economic Research Institute.
The forthcoming autumn harvest, which accounts for about 70 percent of China’s annual grain output, will directly influence inflation because food prices have about a one-third weighting in the calculation of the CPI, said Fan.
China’s annual grain production has recorded increases for six consecutive years, which means there are ample reserves, Fan said.
Adequate food supply will ease inflationary pressures, given that international food prices haven’t seen large fluctuations despite Russia’s ban on grain exports until the end of the year, he said.
China’s inflation rate quickened to a 22-month high of 3.5 percent in August from a year earlier. It was the second consecutive month the CPI has exceeded the government’s full-year target of 3 percent.
China has targeted a 3 percent rise in consumer prices this year, Premier Wen Jiabao said in March.
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