Turning point in China's economy growth at hand

BEIJING, Dec. 10 (Xinhuanet) -- China's consumer price index (CPI), a main gauge of inflation, grew 2 percent year on year in November.

It indicated that the inflection point of price of commodities loomed, which would fuel the inflationary pressure, analysts said.

The National Bureau of Statistics announced that November's inflation rate rose 0.1 percent from a 33-month low of 1.7 percent in October.

China's producer price index (PPI), which measures inflation at the wholesale level, fell 2.2 percent year on year in November, the NBS said.

It marked the ninth straight month of decline after the PPI dropped in March for the first time since December 2009.

However, the decline was smaller than the 2.8-percent decrease in October, suggesting that manufacturing activity has improved.

"A combination of low inflation and modest economic growth is surely a desirable outcome for China in the difficult year of 2012," said Wang Jun, an expert with the China Center for International Economic Exchanges.

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