Home Page | Photos | Video | Forum | Most Popular | Special Reports | Biz China Weekly
Make Us Your Home Page
China
Most Searched: Xi Jinping   ADIZ  Third plenary session  EU-China  Urbanisation  

China's inflation rises 3 pct in Nov.

English.news.cn   2013-12-09 10:06:55            

 People select fruit in a supermarket in Shanghai, east China, Dec. 8, 2013. China's consumer price index (CPI), a main gauge of inflation, grew 3 percent year on year in November, down from the 3.2 percent recorded in October, the National Bureau of Statistics (NBS) said on Monday. (Xinhua/Yang Shichao)

BEIJING, Dec. 9 (Xinhua) -- China's consumer price index (CPI), a main gauge of inflation, grew 3 percent year on year in November, down from the 3.2 percent recorded in October, the National Bureau of Statistics (NBS) said on Monday.

Inflation rose 3 percent in cities, and 3.1 percent in rural areas. Food prices rose 5.9 percent over a year ago, while prices of non-food products edged up 1.6 percent, according to the NBS.

On a month-to-month basis, November CPI contracted 0.1 percent from the previous month. Food prices dropped 0.2 percent from October. Prices of non-food products remained flat against the previous month.

In the first 11 months of 2013, China's CPI rose 2.6 percent year on year, 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 year 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.

Related:

China's November PPI down 1.4 pct

BEIJING, Dec. 9 (Xinhua) -- China's producer price index (PPI) contracted 1.4 percent year on year in November, following a 1.5-percent drop in October, data from the National Bureau of Statistics showed on Monday.  Full story

China's trade surplus hits 34 bln

BEIJING, Dec. 8 (Xinhua) -- China's trade surplus hit 33.8 billion U.S. dollars in November, according to the General Administration of Customs on Sunday.  Full story

China's services PMI falls slightly in Nov.: HSBC

BEIJING, Dec. 4 (Xinhua) -- China's service sector expanded steadily in November, with the HSBC China Services purchasing managers' index (PMI) edging down slightly to 52.5 in November from 52.6 in October, banking giant HSBC said Wednesday in a statement.  Full story

China's non-manufacturing PMI drops in November

BEIJING, Dec. 3 (Xinhua) -- The purchasing managers index (PMI) for China's non-manufacturing sector stood at 56 percent in November, down from 56.3 percent for October, according to official data released on Tuesday.  Full story

Editor: Lu Hui
分享
Related News
Home >> China            
Most Popular English Forum  
Top News  >>
Photos  >>
Video  >>
Top China News Latest News  
  Special Reports  >>
010020070750000000000000011102351329524061