China sees inflation jump to 5.1%, a 28-month high Skip to main content

China sees inflation jump to 5.1%, a 28-month high

Stallholder in Beijing, file pic The government has taken a number of measures to boost the supply of key goods


Global Economy

Inflation in China has risen to a 28-month high, sparking warnings of new interest rate rises.
The inflation rate, measured by the consumer price index, rose 5.1% year-on-year in November, an increase that was above market expectations.
On Friday, China had reported much stronger than expected export growth in November, adding to inflation fears.
Inflation has in the past caused unrest in China, where poor families spend up to half their incomes on food.
The government has said it will take strong action against anyone found to be manipulating food prices.
It has taken a number of measures to try to tighten its monetary policy and boost the supply of key goods.
Beyond expectations In October, the central bank announced the first interest rate rise in nearly three years and analysts say another may be needed.
Shen Jianguang, an economist with Mizuho Securities, told Reuters news agency: "At least one interest rate rise is needed for this year... if you see inflation but no rate hike, people will doubt the determination to fight inflation".
The 5.1% November rise was the biggest since June 2008, and follows a sharp hike on the October rate of 4.4%.
The government's full-year target is 3%.
NBS spokesman Sheng Laiyun told the AFP agency: "Price rises in November are beyond many people's expectations. It will take some time for the [anti-inflationary] policies to be implemented and show clear effects."
China implemented a $586bn stimulus package two years ago which many analysts believe was the catalyst for the inflation rises.

http://www.bbc.co.uk/news/business-11975628
Labels:

Comments

Post a Comment

Popular posts from this blog

Chronology of the Press in Burma

1836 – 1846 * During this period the first English-language newspaper was launched under British-ruled Tenasserim, southern  Burma . The first ethnic Karen-language and Burmese-language newspapers also appear in this period.     March 3, 1836 —The first English-language newspaper,  The Maulmain Chronicle , appears in the city of Moulmein in British-ruled Tenasserim. The paper, first published by a British official named E.A. Blundell, continued up until the 1950s. September 1842 —Tavoy’s  Hsa-tu-gaw  (the  Morning Star ), a monthly publication in the Karen-language of  Sgaw ,  is established by the Baptist mission. It is the first ethnic language newspaper. Circulation reached about three hundred until its publication ceased in 1849. January 1843 —The Baptist mission publishes a monthly newspaper, the Christian  Dhamma  Thadinsa  (the  Religious Herald ), in Moulmein. Supposedly the first Burmese-language newspaper, it continued up until the first year of the second Angl
Post a Comment
Read more

Thai penis whitening trend raises eyebrows

Image copyright LELUXHOSPITAL Image caption Authorities warn the procedure could be quite painful A supposed trend of penis whitening has captivated Thailand in recent days and left it asking if the country's beauty industry is taking things too far. Skin whitening is nothing new in many Asian countries, where darker skin is often associated with outdoor labour, therefore, being poorer. But even so, when a clip of a clinic's latest intriguing procedure was posted online, it quickly went viral. Thailand's health ministry has since issued a warning over the procedure. The BBC Thai service spoke to one patient who had undergone the treatment, who told them: "I wanted to feel more confident in my swimming briefs". The 30-year-old said his first session of several was two months ago, and he had since seen a definite change in the shade. 'What for?' The original Facebook post from the clinic offering the treatment, which uses lasers to break do
1 comment
Read more

Is 160 enough? One Indian man's family

By Sumnima Udas , CNN October 31, 2011 -- Updated 0857 GMT (1657 HKT) Ziona, center, with his has 39 wives, 86 children and 35 grandchildren in rural Baktwang village, India. STORY HIGHLIGHTS One man in India is the patriarch of a family of 160 in rural India Ziona, who only goes by his first name, has 39 wives, 86 children and 35 grandchildren. Ziona's father, Chana, founded the Christian sect in Baktwang that promotes polygamy "I never wanted to get married but that's the path God has chosen for me" Mizoram, India (CNN) -- The world's population hits 7 billion this week, but Ziona, the patriarch of what may be the biggest family in the world, is not bothered. "I don't care about overpopulation in India ... I believe God has chosen us to be like this (have big families). Those who are born into this family don't want to leave this tradition so we just keep growing and growing," he says with a smile. Ziona, who only goes by his f
Post a Comment
Read more