(Yicai Global) July 16 -- The trade dispute between China and the United States should not have a major impact on domestic consumer prices, according to the Chinese National Statistics Bureau.

The consumer price index will rise at a moderate rate through the second half, spokesman Mao Shengyong said today at a press briefing for the cabinet's Information Office. The trade woes did affect the Chinese economy in the first six months, but their influence so far has been minor, he added.

Tensions between the world's two largest economies have been rising since the beginning of this year, when US President Donald Trump slapped a 30 percent tariff on all imported solar panels, a sector led globally by China. The quarrel continued to crescendo and the US imposed tariffs on USD34 billion worth of Chinese goods on July 6, a move quickly mirrored by the Asian nation.

The dispute will not only affect China and the US, but a host of other nations, Mao continued, saying the conflict will adversely influence the recovery of the world economy and global trade growth.

China is extending its opening up and plans to import more this year, he added, saying keeping prices down will be important to expanding domestic demand.

The price of imported soybean will undoubtedly rise, Mao said, adding that this will ripple out to imported beans, pork, eggs and cooking oil but there will be limited impact on overall CPI data.

The producer price index for manufactured goods has risen slower so far this year than last, Mao added, saying this relieved pressure on price setters for downstream products. There is also sufficient supply to meet demand, which should help keep prices down, he said.