Chinese inflation hits 7-month low in December
Chinese inflation fell to its lowest level in seven months in December, catching analysts off-guard and easing fears a new squeeze in monetary policy in the world’s second-largest economy.
The annual rate of price increases fell to 2.5 per cent, driven down from 3 per cent in November by a decline in food costs. Some analysts said the Beijing government’s curb on officials’ lavish banquets had played a part.
“Inflation pressures remain modest, which will allow policymakers to continue focusing on policies to support growth while implementing structural reform measures in 2014,” said Xiaoping Ma of HSBC in Beijing.
The Chinese government is attempting to rein in its large shadow-banking sector and constrain the expansion of credit, which has driven GDP growth in China since the global financial crisis of 2008. Total debt in the economy has risen to around 200 per cent of GDP, up from 120 per cent just six year ago.
Beijing has an official target for inflation of 3.5 per cent. The average annual increase last year was 2.6 per cent.
Oxford is the least affordable city in the UK, where houses cost 11 times local salaries
Swarm of killer bees sting woman 1,000 times
Malaysia Airlines Flight MH370: Oil slicks in South China Sea ‘not from missing jet’, officials say
Steve Irwin’s final words: Cameraman present at death opens up about deadly stingray attack for the first time
Oscar Pistorius trial: Athlete repeatedly throws up as court hears 'graphic details' of Reeva Steenkamp's autopsy
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
If you're horrified by a flame-roasted dog, you should be shocked at a hog roast
Poor 'live like animals' says Boris's privately educated sister after going on 'poverty safari'
Exclusive: Impact of immigrants on British workers ‘negligible’
Vince Cable: Teachers 'know absolutely nothing' about the world of work
Ukraine crisis: Russia pledges to 'retaliate against sanctions' as Ukrainian president says Crimea vote will not be recognised
- 1 Oxford is the least affordable city in the UK, where houses cost 11 times local salaries
- 2 Australian man Rod Sommerville reacts to bite from deadly snake by reaching for cold beer
- 3 North Korea elections: Kim Jong-un wins 100% of the vote
- 4 David Cameron resorts to paying for Facebook fans because not enough people like him
iJobs Money & Business
£32000 - £36000 per annum + generous benefits: Pro-Recruitment Group: * TAX * ...
£55000 - £70000 per annum + benefits: Pro-Recruitment Group: In-House Corporat...
£80000 - £100000 per annum + benefits: Pro-Recruitment Group: In-House Opportu...
£30000 - £35000 per annum + generous benefits: Pro-Recruitment Group: Mixed Ta...