Inflation expectations among urban Chinese residents rose in the third quarter and most consider consumer prices unacceptably high, according to the results of a central bank survey of 20,000 residents published on Thursday.
Among residents surveyed, 49.6 percent of respondents expected prices to rise further in the fourth quarter, higher than 45.5 percent in the previous survey, the central bank said.
The survey also found that residents have become more willing to save rather than invest in the third quarter, due to the sluggish stock and property markets.
The central bank said that about 76 percent of residents regarded property prices as "too high," while 37.9 percent expected home prices to rise for the rest of the year, both up from the previous survey.
China's consumer inflation eased to 6.2 percent in August from a three-year high of 6.5 percent in July, raising expectations that the central bank may hold off on further policy tightening amid worries about a global economic slowdown.
Zhang Xiaoqiang, vice chairman of the country's top economic planning agency also said that China's inflation had reached a "turning point" and is likely to fall steadily in the coming months due to the government's tightening campaign and favorable base effects.
A separate central bank survey of executives from 3000 banks in China showed that 56.4 percent of respondents expected higher interest rates in the fourth quarter, down from 68.2 percent in the previous quarter.
In a separate survey of 5000 company mangers, the central bank found that 39.5 percent expected credit conditions to remain tight for the rest of the year, compared with 37 percent in the previous quarter.
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