- POSTED: 09 Dec 2013 11:02
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Chinese inflation decelerated to 3.0 per cent in November, the National Bureau of Statistics (NBS) said Monday, well under the government's target for the year.
BEIJING: Chinese inflation decelerated to 3.0 per cent in November, the National Bureau of Statistics (NBS) said Monday, well under the government's target for the year.
The annual rise in the consumer price index (CPI), a main gauge of inflation, compared with an increase of 3.2 per cent recorded in October.
It was also lower than the median forecast of 3.1 per cent by 11 economists in a Wall Street Journal survey reported by Dow Jones Newswires.
Inflation for the first 11 months of the year came in at 2.6 per cent, far below the government's full-year target of 3.5 per cent.
China's exports grew far more strongly than expected in November while import growth weakened, fuelling the country's biggest trade surplus in nearly five years, the government announced Sunday.
Exports increased 12.7 per cent year-on-year to US$202.2 billion, the General Administration of Customs said.
Imports were up 5.3 per cent year-on-year to US$168.4 billion, with the monthly trade surplus expanding to US$33.8 billion from US$31.1 billion in October -- the biggest since January 2009.
The latest inflation and trade data came after China's economy snapped out of a first-half slump, with gross domestic product growth in the third quarter accelerating to 7.8 per cent year-on-year after slowing during the first two quarters.