Saturday, December 08, 2012 10:07 pm
China says inflation at 2.0 percent in November
The Associated Press
The 3.0 percent rise in food prices included an 11.3 percent boost in the cost of vegetables, which was due to cold weather disruptions, the National Bureau of Statistics said. Food prices are unusually sensitive in a society where the poorest families spend up to half their incomes to eat.
China's economic growth has been slowing, falling last quarter to a three-and-a-half-year low of 7.4 percent as the country's leadership pursues a policy of targeted stimulus. The government has aimed to keep a lid on any economic overheating and sharp price rises that followed its huge stimulus in response to the 2008 global crisis.
Forecasters expect growth to rebound this quarter or early in 2013, but say it will be gradual and likely too weak to drive global growth.