BEIJING, July 7 (Xinhua) -- China's consumer price index (CPI) is forecast to edge up slightly in June because of higher food prices, Securities Daily reported on Monday.
The CPI for June is expected to rise by 2.5 percent year on year, compared with an increase of 2.4 percent in May, Lu Zhengwei, chief economist at Industrial Bank, told Securities Daily.
Accelerating work and production resumption has boosted the catering sector, pushing up demand for and prices of pork and vegetables, said Lu.
Sinolink Securities also forecast the CPI growth at around 2.5 percent in June, with higher pork prices, as demand exceeded supply.
Official data showed that China's CPI rose by 2.4 percent year on year in May, moderating from the 3.3-percent growth in April. In the first five months, the CPI went up by 4.1 percent year on year on average.
China has set its consumer inflation target at around 3.5 percent for the year 2020, according to the government work report.
The National Bureau of Statistics is scheduled to release the CPI for June on July 9.
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