China Economic Daily reported on September 15, that the spokesman of the National Bureau of Statistics, Mao Shengyong said that throughout this year China’s macroeconomic indicators have remained “stable” and there is no danger of stagflation. He said though variables in the external environment are increasing, China’s economic adaptability and capability to withstand external risks are strong. Mao Shengyong explained there were no risks of either inflation or stagnation - and especially no risk of stagflation. Recent changes to the Consumer Price Index (CPI) are due to an increase in the price of pork and vegetables, which is mainly the result of seasonal factors. Industrial consumer goods remain abundant and non-food prices will remain stable. Additionally, monetary policy is still stable and neutral. These factors combined indicate no risks of inflation and prices will not rise significantly. He also said China’s GDP has remained in the medium-to-high speed range of 6.7%-6.9%, clearly showing no signs of stagnation. Therefore stagflation does not exist in China at this time.

(Comment: The word “stable” was used in the article 11 times.)