BEIJING - China's consumer inflation accelerated to a seven-year high in November while producer prices extended their run of declines, complicating the central bank's efforts to support the economy.
Pork prices, a key element in the country's CPI basket, drove the gain, surging 110 per cent from a year earlier as a deadly hog virus cut supply. This pushed up the CPI by about 2.64 percentage points. Core inflation, which removes the more volatile food and energy prices, remained subdued at 1.4 per cent, suggesting domestic demand remains sluggish and the central bank can look through the supply shock.
Source: Financial Digest (financialdigest.net)
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