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CPI increased by 3.8% in October
2008-11-21 14:24:44 visits:1129
      The price is decreasing, and the living cost is coming down. It is welcome news for the general public. Apart from oil, prices of meat and liquefied petroleum gas have also dropped. CPI is also reduced accordingly. The CPI of Ningbo increased 3.8% in October, down 1.3 percentage points as against September. This is the first time that the growth rate of CPI in Ningbo dropped below 4% since September, 2007.

     The increase rate of CPI decreased largely because of the price dropping in food, especially in oil and meat. The price of food reduced 0.3% in October year-on-year, a further decrease since September’s 0.8%.

     The cutting of mortgage rates in October and the plunging price for liquefied petroleum gas have brought down Ningbo’s CPI by 0.16 percentage points. Surprisingly, the garment products which frequently go on sales have a price increase of 1.9% in October. Experts analyzed that spring suits had a great discount already, and autumn suits have not been on large promotion yet. Moreover, the cost for industrial goods is increasing, so the price of garment is also growing.


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