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

Reuters
·1 min read
FILE PHOTO: Chinese 100 yuan banknotes are seen in a counting machine while a clerk counts them at a branch of a commercial bank in Beijing

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.

(Reporting by Stella Qiu and Ryan Woo; Editing by Jacqueline Wong)