According to the Changzhou Survey Organization of the National Bureau of Statistics, in the first half of 2021, the market prices performed within a reasonable range, indicating that the annual target of keeping price increase within 3 percent is attainable.
The consumer price index (CPI), a main gauge of inflation, rose 1.4 percent year on year in H1, among which the food prices grew 1.8 percent year on year, while non-food prices gained 1.3 percent. The prices of consumer goods rose 1.6 percent, and service prices up by 1.1 percent.
Since the beginning of this year, for large industrial users and general industrial and commercial users, electricity prices dropped by 4.55 points/kWh and 0.46 points/kWh respectively. Under the time-of-use billing arrangement, the electricity price during the off-peak hours is further reduced, bringing an RMB 1.5 billion cut in cost for enterprises.
In addition, over 900 agricultural enterprises have enjoyed discounts in electricity price, which will save them millions of RMB for the whole year.
In the second half of 2021, the Municipal Development and Reform Commission will continue to take six measures to ensure commodity supply and stable price, with the overall price level expected to fall in line with the economic fundamentals.
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