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People's Daily Online>>China Business

China's CPI up 4.2 pct in Nov.

By Chen Lidan (People's Daily Online)

09:34, December 09, 2011

Beijing Dec. 9 (People’s Daily Online) - China’s consumer price index (CPI), a major gauge of inflation, eases to the lowest level so far this year, according to data released by China’s National Bureau of Statistics on Friday.

Consumer prices rose 4.2 percent in November year-on-year, easing from 5.5 percent in October, because of the significant drop in food price and international commodity prices, which are the major two factors that prop up the price level.

Though the headache of inflation has been relieved after three consecutive months decline, the risk of a hard-landing is growing. The country’s Purchase Management Index (PMI) fell to a 32-month low in November, the most recent signal demonstrating a potential deeper slowdown ahead.

Easing inflation may encourage police-makers to shift the focus from price control to stabilizing economic growth. People's Bank of China surprisingly announced to lower reserve requirement ratio on the last day of November to relieve the liquidity strain, which is the first cut in three years. The central bank is likely to release more capital by further reserve ration cuts to shore up the slowing economy.

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