China to Keep Same Inflation Target in 2020 Despite Food Price Spike: Sources

China to Keep Same Inflation Target in 2020 Despite Food Price Spike: Sources
A vendor is seen in her store at a supermarket in downtown Beijing, China on May 23, 2019. Jason Lee/Reuters
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BEIJING—China has decided to keep its inflation target unchanged this year at around 3 percent, sources say, suggesting policymakers will continue to roll out more economic support measures while avoiding aggressive stimulus.

Some analysts have speculated that Beijing will raise the inflation target to 3.5 percent, which would give authorities more room to support the world’s second-largest economy as growth tails off to the slowest in nearly 30 years.