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A consumer buys some pork in a
supermarket in Hefei, capital of central China'a Anhui Province, Sept. 11,
2007. China's consumer price index (CPI) jumped by 6.9 percent in November
on food price increases, the National Bureau of Statistics (NBS) said on
Tuesday. (Xinhua File Photo)
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BEIJING, Dec. 11 (Xinhua) -- China's consumer price index
(CPI) jumped 6.9 percent in November over the same month last year due to food
price increases, the National Bureau of Statistics (NBS) said Tuesday.
It was the biggest monthly rise this year and an
increase of 6.5 percent over October this year, leveling the 33-month high
recorded in August.
"The latest figure indicates accelerating inflation
pressure," NBS chief economist Yao Jingyuan told Xinhua. He said price jumps for
foodstuffs, which have a weight of 33 percent in China's CPI, and oil price
increases were the major driving forces behind the rise.
Food prices ballooned 18.2 percent in November from a
year earlier, compared with 17.6 percent in October.
The bureau said food prices drove up the November CPI
figure by 5.94 percentage points.
Grain prices rose 6.6 percent over the same period
last year, while cooking oil prices increased 35 percent.
Pork prices, blamed for the recent increase in CPI
figures, soared 56 percent.
Non-food prices, however, rose only 1.4 percent,
according to the bureau.
The accumulative increase of the main inflation gauge
reached 4.6 percent in the first 11 months, the bureau said.
China's consumer price index was forecasted to be
around 4.7 percent for the whole year. It would be the highest yearly figure
since 1997, Yao said.
The prediction was higher than the 4.5 percent to 4.6
percent forecast made by the country's top statistician, Xie Fuzhan, late last
month.
The previous record for annual CPI rise was 8.3
percent in 1996.
China's producer price index (PPI) rose 4.6 percent
year-on-year in November, the largest monthly increase in more than two years,
the bureau said Monday.
The sharp PPI rise last month fuelled concern over
further inflation caused by rising production costs.
The rising CPI figures in recent months have been
running contrary to earlier predictions that China's CPI would fall steadily
later this year.
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2007 catchphrases of China economy
The primary concerns of
Chinese people with the future economy are reflected in
the catchphrases. [Factbox]

China to adopt tight
monetary policies 2008 China will shift its monetary policy from "prudent," an
approach it has followed for the last ten years, to "tight" in
2008. Full
story
¡¤Timeline of
China's fiscal and monetary policy
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China's foreign trade nears $2
trillion in 1st 11 months
BEIJING, Dec. 11 (Xinhua) -- China's total foreign trade
was 1.97 trillion U.S. dollars during the first 11 months of this year, up 23.6
percent from a year earlier.
China to raise reserve requirement
ratio for 10th time this year
BEIJING, Dec. 8 (Xinhua) -- China will raise the reserve
requirement ratio by one percentage point for commercial banks in an effort to
cool the booming economy, the central bank announced Saturday.
China to adopt tight monetary policies
in 2008
BEIJING, Dec. 5 (Xinhua) -- China concluded its three-day
2007 Central Economic Work Conference on Wednesday with a pledge to shift its
monetary policy from "prudent," an approach it has followed for the last ten
years, to "tight."
China aims to prevent overheated
economy, curb inflation in 2008
BEIJING, Dec. 5 (Xinhua) -- The primary task of China's
2008 economic work has been set "to prevent the economy from becoming overheated
and to guard against a shift from structural price rises to evident inflation,"
a key economic meeting said here Wednesday.