China has favorable conditions to maintain overall price stability: central bank

Beijing Review | Aug 12, 2022 at 2:00 AM
  • China is expected to achieve its inflation control target this year as the country has several favorable conditions to maintain the overall stability of prices.
  • It is expected that this year’s price increases will remain within a reasonable range, achieving the target of an average annual consumer price index (CPI) increase of around 3 percent, the People’s Bank of China (PBOC) said on August 10 in its latest quarterly monetary policy report.
  • The report reiterated that the central bank will adhere to a prudent approach in its monetary policy, avoiding a “flood-like” stimulus.