PBOC official expects China's CPI close to 1 pct at year end

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PBOC official expects China's CPI close to 1 pct at year end

STORY: PBOC official expects China's CPI close to 1 pct at year end DATELINE: July 14, 2023 LENGTH: 00:00:54 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of the press conference 2. SOUNDBITE (Chinese/English interpretation): LIU GUOQIANG, Deputy governor, People's Bank of China STORYLINE: China's consumer price index (CPI) will see a U-shaped trajectory this year and will be close to 1 percent at the end of 2023, a central bank official said on Friday. SOUNDBITE (Chinese/English interpretation): LIU GUOQIANG, Deputy governor, People's Bank of China "Against the backdrop of high inflation around the world, China's prices have remained generally stable. This year, China's CPI saw some decreases, but China is not in a period of contraction. We believe that in July, CPI might continue to drop, but that's mainly attributable to a time lag in the recovery of demand and the base figure of last year. This is a temporary phenomenon in the recovery of the economic circulation. China's M2 monetary supply

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