China's Inflation Likely to Ease in November

Wednesday, 30 November 2011, 07:44 Hrs
Printer Print Email Email


Beijing:  China's inflation is predicted to fall for a fourth consecutive month in November with the consumer price index (CPI) likely to drop to 4.3 percent, a bank report said.

Food prices have dropped as warm weather has allowed for an abundant winter supply of vegetables, eggs and pork, according to a Bank of Communications' report. According to data from the Ministry of Commerce, pork prices dropped 1 percent than last week and were down 10.7 percent cumulatively since mid-September, reported Xinhua.

Egg prices have fallen in consecutive weeks, down 5 percent in the past two months, as supplies increased, the ministry said. Food prices have a one-third weighting in the calculation of China's CPI, which eased to 5.5 percent last month, down from 6.1 percent in September.

In addition to lower food prices, declines in global commodity prices and weakening tail-raising factors will also contribute to the CPI's decline in November, the report said.


Source: IANS
SPOTLIGHT
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..