11 January 2013 03:39 [Source: ICIS news]
SINGAPORE (ICIS)--China’s consumer inflation hit a seven-month high of 2.5% in December, largely on higher food prices, official data showed on Friday.
The food price index last month increased by 4.2% year on year, according to China’s National Bureau of Statistics (NBS).
Production and transportaion of vegetables were adversely affected by a colder-than-usual December weather, leading to higher prices of this food group, an NBS official said.Meanwhile, China’s producer price index (PPI) – a gauge of wholesale prices – declined by 1.9% in December from 2.2% in November, with prices of chemical raw materials falling by 3.7%, the NBS data showed.
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