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BEIJING : China's inflation rate hit 7.1 percent in January, the National Bureau of Statistics said Tuesday, the highest figure in over 11 years.
The consumer price index was pushed up by an 18.2 percent rise in food prices, with the cost of pork jumping 58.8 percent compared with a year ago, the bureau said.
The January inflation rate of 7.1 percent was up from 6.5 percent in December, and was the highest since September 1996, when the index rose 7.4 percent.
Inflation in China has continued to rise sharply despite a wide range of government measures to keep a lid on prices and rein in the nation's economy, which expanded at a 13-year high of 11.4 percent in 2007.
As part of those efforts, China last year raised interest rates six times and increased the amount of money commercial banks needed to set aside in reserves 10 times.
But taming inflation became far tougher in China in January when large swathes of the country endured their coldest winter weather in more than 50 years.
In south and southwestern China, which suffered the worst of the weather, snow and ice destroyed crucial winter crops such as wheat, rapeseed and fruit.
And as China struggles to control rising prices, there are increasing concerns that it is exporting its inflation problem.
With the cost of raw materials, food and energy rising in China, its vast array of exports are in danger of becoming far more expensive, although the massive source of cheap labour helps to absorb some of those pressures. - AFP/ch
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