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China's CPI up 2.0% in Nov

Dec. 10, 2012 (China Knowledge) - China's consumer price index (CPI), the major gauge of inflation, has increased 2.0% YoY in November this year, according to statistics released by the National Bureau of Statistics (NBS)).
The CPI growth last month was higher than the 1.7% increase in October.

The CPI in urban areas rose 2.1% YoY in November, while the CPI in rural areas increased 1.9% YoY, according to the statistics.
The NBS said food prices went up 3.0% YoY last month, driven by a 11.3% increase in fresh vegetable prices, 4.9% increase in the prices of aquatic product, a 3.8% increase in grain price and a 4.1% increase in edible oil. Meanwhile, the price of prices of meat, poultry and processed products saw widened decline of 1.8% YoY, with the price of pork dropping 11.5% YoY, which contributed a 0.41 percentage point decline to the overall CPI last month.

The prices of tobacco products, alcohol and related products climbed 1.7% YoY, mainly driven by a 3.3% increase in alcohol prices, while the prices of household appliances and maintenance services grew 1.5% from a year earlier.

The price of personal and health care products increased 1.6% YoY in November, while the price of clothing rose 2.3%, with a 2.4% increase in the price of garments and 1.7% increase in footwear.

In November, the prices of transportation and communications remained flat from a year earlier, and there is an increase of 2.6% in housing costs that were driven by a 2.9% increase in housing rentals, 3.9% increase in the prices of water, electricity and fuels, and 0.4% increase in the prices of building and decoration materials.

In the first eleven months, the country's CPI grew 2.7% YoY.

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