Price stability is key priority for China’s central bank

BEIJING: China’s inflation is likely to see moderate growth this year, but a consistent pickup is unlikely, given the constrained consumption of services, a senior central bank official said.

The People’s Bank of China (PBOC), the central bank, is keeping a close watch on changes in the core Consumer Price Index or CPI, an indicator of inflation that excludes volatile food and energy prices, which is currently still at a low level, Chen Yulu, vice-governor of the PBOC, said during a news conference in Beijing.