Posted by: youngragingbull | January 11, 2013

China CPI rises in December on rising food prices

The rise in Chinese consumer prices increased in December as the cost of food items rose more than expected, according to official data released Friday.

Monthly figures released by the National Bureau of Statistics showed China’s consumer price index rose 2.5% from the year-ago period in December, accelerating from a 2% increase in the preceding month as food prices jumped 4.2%. But the producer price index, reflective of wholesale prices, dropped at a more-than-expected rate of 1.9% from the level in December 2011.

Economists surveyed by Dow Jones Newswires had estimated a 2.4% increase in the CPI, with food prices seen climbing 1.9%, and a 1.8% drop in PPI.

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