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6:25p ET February 14, 2011 (Dow Jones) China Has Adjusted Weighting Of Components In CPI - Report
SHANGHAI (Dow Jones)--China has adjusted the weighting of the components making the consumer price index and lowered the weighting of food at the start of the year, the state-run China Securities Journal reported Tuesday, citing an unnamed official at the National Bureau of Statistics.
But the report quoted Xian Zude, chief statistician of the bureau, as saying that the new CPI statistical model will reflect changes in consumption and price levels more accurately, and won't result in a lower index reading.
The report came ahead of the release of January CPI data Tuesday morning. On Monday, state-run Xinhua News Agency quoted government economist Ba Shusong as saying that China's CPI for January may be lower than market expectations, without elaborating.
The median forecast in a Dow Jones Newswires survey of 12 economists was for January's CPI to have risen by 5.4% on year, up from December's 4.6% rise and November's 5.1% increase.
Newspaper website: http://www.cs.com.cn
-By China Bureau, Dow Jones Newswires; 8621 6120-1200; djnews.shanghai@dowjones.com
SHANGHAI (Dow Jones)--China has adjusted the weighting of the components making the consumer price index and lowered the weighting of food at the start of the year, the state-run China Securities Journal reported Tuesday, citing an unnamed official at the National Bureau of Statistics.
But the report quoted Xian Zude, chief statistician of the bureau, as saying that the new CPI statistical model will reflect changes in consumption and price levels more accurately, and won't result in a lower index reading.
The report came ahead of the release of January CPI data Tuesday morning. On Monday, state-run Xinhua News Agency quoted government economist Ba Shusong as saying that China's CPI for January may be lower than market expectations, without elaborating.
The median forecast in a Dow Jones Newswires survey of 12 economists was for January's CPI to have risen by 5.4% on year, up from December's 4.6% rise and November's 5.1% increase.
Newspaper website: http://www.cs.com.cn
-By China Bureau, Dow Jones Newswires; 8621 6120-1200; djnews.shanghai@dowjones.com
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