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China’s CPI inflation hit a 21-month high in November
China's consumer price index inflation rose to 0.7% year on year in November, up from 0.2% in October. This was broadly in line with consensus forecasts. It marks a 21-month high, and it’s tied for the highest level in the past 33 months. The big driver was a larger-than-expected boost to food prices, which rose 0.5% month-on-month to 0.2% YoY. Year-to-date, this has been a significant drag on CPI inflation -- food inflation is at -1.7% YoY. The biggest contributor was a spike in fresh vegetable prices, which surged 7.2% MoM to reach 14.5% YoY. The lift from food prices could continue in the coming months, where we ... (full story)
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