CICC: June CPI to Hit 6.2 Percent

(Beijing) -- China's June CPI is set to hit 6.2 percent as food prices continued to rise, said a report released on June 27 by China International Capital Corporation.

CICC predicted June food prices would increase by 0.4 to 0.6 percent from May, whereas prices for non-food products remain relatively flat, rising by at most 0.1 percent.

As of June 24, the wholesale price index of the vegetable basket compiled by the Ministry of Agriculture showed a 4.1 percent month-on-month increase from May's record. Food price indicators monitored by the Ministry of Commerce and the National Bureau of Statistics also suggested an upward trend for prices of pork, eggs, aquatic products and some vegetables.