Reply #54: China Jan CPI seen up 6.5 pct yr-on-yr - party official [View All]

[Ghost Dog]

BEIJING (XFN-ASIA) - Chinese consumer prices are expected to rise 6.5 pct year-on-year in January, level with the rise in December, the official Xinhua news agency reported, citing a Communist Party official in charge of rural policy.

Chen Xiwen, director of the party's Office of the Central Leading Group on Rural Work, said January snowstorms have had a serious impact on agricultural production in the south of the country, but the national supply of grain, pork and edible oils is not expected to be significantly affected.

Chen added that most winter grain crops are grown in the north, where the snowfall has been much milder.

"As for the impact on the whole year's grain production, we have to wait and see. We are not sure how long the storms will last or whether they will move north," he said.

/.. http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=82f70558-eb4a-4c64-9f06-e14445c482e1