Inflation in Guangdong kept to 1.9pc

PUBLISHED : Wednesday, 04 February, 1998, 12:00am
UPDATED : Wednesday, 04 February, 1998, 12:00am

Guangdong province's retail price index rose 0.1 per cent last year, while its consumer price index, which also covers costs of services, was up 1.9 per cent.

Success in macro-economic control and negative growth in food prices were the main factors forcing down the overall price level, the Xinhua news agency reported.

Gross domestic product grew an average 15.4 per cent each year between 1993 and 1997, while sales of consumer goods surged 24.4 per cent.

The provincial price bureau forecast inflation would remain low in the first half this year.