China’s NDRC: CPI to grow mildly in 2021, remain within target

Dhwani Mehta FXStreet

China’s Consumer Price Index (CPI) is expected to increase slightly this year and remain within the official target, Meng Wei, a spokesperson for the National Development and Reform Commission (NDRC) said on Monday.

Additional quotes

“Price trends in China will be influenced by external factors as global commodity prices rise.”

“But the impact would be limited and controllable.”

Note that China has set a target for CPI at around 3% this year.

China’s CPI for February outpaced expectations. China CPI (YoY) Feb arrived at -0.2% vs.-0.4% expectations and -0.3% previous.

USD/CNY better bid in Asia

USD/CNY is defending minor bids, off the highs, amid broad-based US dollar bounce. The spot remains unperturbed by the above comments, as it trades at 6.5248 by the press time.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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