China's inflation up 3% in Nov
Updated: 2013-12-09 09:52
(Xinhua)
|
|||||||||
BEIJING -- China's consumer price index (CPI), a main gauge of inflation, grew 3 percent year-on-year in November, down from 3.2 percent in October, the National Bureau of Statistics said on Monday.
In breakdown, inflation rose 3 percent in cities, and 3.1 percent in rural areas. Food prices rose 5.9 percent from a year ago, while prices of non-food products edged up 1.6 percent, according to the NBS.
On a month-to-month basis, food prices in November dropped 0.2 percent from October. Prices of non-food products remained flat.
CPI rose 2.6 percent in the first 11 months year-on-yer, well below the government's full-year target of 3.5 percent.
The NBS data also showed China's producer price index, which measures inflation at the wholesale level, contracted 1.4 percent year-on-yer in November, following a 1.5-percent drop in October.
Yu Qiumei, a senior statistician with the NBS, said prices in the food category, which accounts for roughly one-third in the weighting of China's CPI calculation, edged down slightly as a whole in November.
Prices of grain, beef, mutton, milk and fruit rose month on month, but prices of pork, fresh vegetables, eggs and aquatic products contracted from the previous month.
November's vegetable prices registered a 3.8-percent contraction from October, but Yu stressed the differences in vegetable prices among various regions. The northeast and northwest of China saw vegetable prices rise month on month due to snow and low temperatures, while vegetable prices fell in most of China.
The moderation in year-on-year CPI inflation in November was due to lower food inflation, according to a research note by Zhi Xiaojia and Lu Ting, China economists with Bank of America Merrill Lynch.
Food inflation fell to 5.9 percent year on year from 6.5 percent in October. Vegetable price inflation dropped to 22.3 percent year on year from October's 31.5 percent and contributed 59 basis points to the 3.0 percent CPI.
Vegetable and pork prices dropped 3.8 percent and 0.5 percent in November respectively.
Zhang Liqun, a researcher with the Development Research Center of the State Council, China's cabinet, said overall prices for November were stable and factors favorable to stable food prices are increasing.
Seasonal factors behind price fluctuations of fresh vegetables are decreasing and CPI inflation could ease further, he said.
- Catering to Chinese viewers a hurdle for Hollywood
- Fire breaks out at construction site in SW China
- World's top leaders pay tribute to Mandela
- More emission controls urged
- DPRK leader's uncle stripped of all posts
- Capturing 'beautiful Beijing'
- Gaokao reform removes English
- South Africans pray for Mandela
Most Viewed
Editor's Picks
Cities hit hard by smog |
$50,000 in the US; $149,000 in China |
Against a sea of troubles |
David Cameron's China visit |
Beyond 'panda diplomacy' |
Bitter pill |
Today's Top News
GDP growth could hit 7.8% next year
ROK air zone expansion 'a regret'
Obama, Bush embark for Mandela memorial
Japan 'betrays' arms embargo
Frenzy of interest in subsidized homes project
Pyongyang sees major power change
Water diversion set to benefit Shandong
More emission controls urged
US Weekly
Geared to go |
The place to be |