Global commodity price spike to have limited impact on China's prices – NDRC

FILE PHOTO: People wearing face masks shop at a market, following new cases of the coronavirus disease (COVID-19) in the country, in Beijing, China January 11, 2021. REUTERS/Tingshu Wang

BEIJING (Reuters) – The gains in global commodity prices are not sustainable over the long term and their impact on China’s domestic prices will be limited and controllable, the country’s top economic planning agency said on Monday.

Price trends in China will be influenced by external factors as commodity prices rise, but the domestic market and government policy would provide support to the stabilisation in prices, Meng Wei, spokeswoman at the National Development and Reform Commission (NDRC), told reporters at a regular briefing.

“Prices will remain within a reasonable range,” Meng said, adding that the consumer price index (CPI) in particular would grow mildly this year and remain within the official target.

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

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