China's Nov. inflation to edge up to 2%: UBS report

BEIJING, Nov. 17 (Xinhua) -- China's inflation is expected to edge up to 2 percent in November amid recovering economic conditions, according to a forecast from the Union Bank of Switzerland (UBS).

In its weekly report released on Friday, the investment bank forecast that the country's consumer price index (CPI), the main gauge of inflation, is expected to grow to 2 percent in November. The CPI saw 1.7-percent growth last month, marking its slowest pace since January 2010.

Driven up by rising seasonal demand, food prices, which account for nearly one-third of the weighting in the calculation of China's CPI, are likely to continue to rise through the year's end, the report said, citing increased prices for vegetables in major cities in the past week.

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