China Inflation Rate Eases to Nearly 5-Year Low in November
China's annual inflation rate slowed to 1.4 percent in November, down from 1.6 percent increase in the previous month and touching the lowest level since January 2010. The politically sensitive food prices accelerated to 2.3 percent while non-food cost rose at a slower 1.0 percent.
12/10/2014 4:32:50 AM
Among food prices, the highest increases came from egg (+16.5 percent in November from +16.4 percent increase in October) and fresh fruits (+14.0 percent from +15.2 percent). Prices were lower for fresh vegetables (-5.2 percent from -7.2 percent ) and pork (-3.8 percent fro, -3.1 percent).
For non-food categories, price decreases were seen for transport and communication (-0.8 percent from -0.3 percent) and travel (-2.9 percent from -2.3 percent). Prices were stable for health care and personal products (+1.3 percent) and household equipment and maintenance services (+1.2 percent). In contrast, higher prices were seen on clothing (+2.6 percent from +2.4 percent) and entertainment and educational products and services (+1.0 percent from +1.1 percent).
For 2014, the government has set inflation target at around 3.5 percent.
Month-on-month, consumer prices dropped 0.2 percent in November, after remaining unchanged in the preceding month.
Producer prices index declined by 2.7 percent from a year earlier, compared with a 2.2 percent fall in October. The index has been in a negative territory since March of 20124