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Journalism of Courage
Inflation in China spiralled to a 28-month high of 5.1 per cent in November,sparking off speculation that the Communist nation may further tighten its monetary policy.
Inflation was driven by a 11.7 per cent surge in food prices,which accounts for one third of the basket of goods used to calculate China’s Consumer Price Index (CPI),Sheng Laiyun,spokesman for China’s National Bureau of Statistics (NBS) told media today.
“Prices will stay stable in the following period of time as long as ministries and regional authorities seriously implement the central government’s measures on checking prices,” state run Xinhua news agency quoted him as saying.
From January to November,CPI rose by 3.2 per cent year- on-year (Y-O-Y),surpassing the government’s target of three per cent for the year.
