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China's Consumer Price Index dips to 13 month low of 4.2 percent in November.

Beijing, Dec 9 (ANI): China's Consumer Price Index (CPI), a main gauge of inflation, reached a 13 month low of 4.2 percent in November, as compared to 5.5 percent in October due to declining food prices.

The National Bureau of Statistics (NBS) said the cost of living in China fell by 0.2 percent in November, Xinhua reports.

"November's reading indicates that inflation is weakening faster than I had anticipated," State Information Center's Economic Projection Department Deputy Researcher Zhang Monan said.

Monan said the lower-than-expected inflation was partly due to tightening of monetary policies undertaken in the first half of this year, a contraction in domestic and overseas demand, and falling commodity prices in the global market.

Food prices, which account for nearly one-third of the basket of goods used to calculate the CPI, increased by 8.8 percent in November driving up inflation by 2.7 percent, according to the NBS.

The carryover factor, which measures the impact of past year's prices on current year's prices, eased in November and did not contribute significantly to November's CPI growth. (ANI)

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Publication:Asian News International
Geographic Code:9CHIN
Date:Dec 9, 2011
Words:197
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