Current price hike is structural

时间：2007-08-22 08:23:40

（单词翻译:单击）

Chinanews, Beijing, Aug 21 – Last July, CPI growth rate reached the highest point in ten years. Many people say China might be faced with an overall inflation problem. However, on Monday, an official from the State Development and Reform Commission (SDRC) said the current price hike was structural1 and China could guarantee its supply of food and agricultural products.

 

Over the past few years, CPI growth increased month by month. CPI growth rate had exceeded the 3% alerting line for several consecutive2 months. Last July, it reached 5.6%, an all-time high in ten years.

 

During the past seven months, food and housing prices witnessed the largest ever growth, the two prices together contributing to the overall price rise by 3.4 percentage points. Compared with these two prices, prices of other goods remain stable, said Cao Changqing, director of SDRC's Pricing Section.

 

The rise of food price has been caused by a variety of factors, including the price rise of food in international market, rising costs in food materials, the unbalanced supply and demand, and speculative3 activities conducted by some businesspeople, according to Chinese government.

 

China can guarantee its food supply and the supply of other agricultural products. China had experienced bumper4 harvest for three consecutive years, and it has seen another good harvest this summer. At present, China's grain stock has increased by 24 billion kilograms compared with last year, SDRC official said.

 

China's cooking oil production far exceeds market demand, and its supply of non-staple foods remains5 abundant. In addition, the production capability6 for other processed foods, including instant noodles, is also sufficient, Cao said.

 

When talking about petroleum7 supply, Cao said that, at present, the two main Chinese oil producers, PetroChina and Sinopec, were operating normally and could guarantee the country's petroleum supply.

 
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1 structural itXw5     
adj.构造的，组织的，建筑（用）的
参考例句：
  • The storm caused no structural damage.风暴没有造成建筑结构方面的破坏。
  • The North American continent is made up of three great structural entities.北美大陆是由三个构造单元组成的。
2 consecutive DpPz0     
adj.连续的，联贯的，始终一贯的
参考例句：
  • It has rained for four consecutive days.已连续下了四天雨。
  • The policy of our Party is consecutive.我党的政策始终如一。
3 speculative uvjwd     
adj.思索性的，暝想性的，推理的
参考例句：
  • Much of our information is speculative.我们的许多信息是带推测性的。
  • The report is highly speculative and should be ignored.那个报道推测的成分很大，不应理会。
4 bumper jssz8     
n.(汽车上的)保险杠；adj.特大的，丰盛的
参考例句：
  • The painting represents the scene of a bumper harvest.这幅画描绘了丰收的景象。
  • This year we have a bumper harvest in grain.今年我们谷物丰收。
5 remains 1kMzTy     
n.剩余物，残留物；遗体，遗迹
参考例句：
  • He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
  • The remains of the meal were fed to the dog.残羹剩饭喂狗了。
6 capability JsGzZ     
n.能力；才能；(pl)可发展的能力或特性等
参考例句：
  • She has the capability to become a very fine actress.她有潜力成为杰出演员。
  • Organizing a whole department is beyond his capability.组织整个部门是他能力以外的事。
7 petroleum WiUyi     
n.原油，石油
参考例句：
  • The Government of Iran advanced the price of petroleum last week.上星期伊朗政府提高了石油价格。
  • The purpose of oil refinery is to refine crude petroleum.炼油厂的主要工作是提炼原油。

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