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.
- 3 Make your voice heard: Sign The Independent's petition to welcome refugees
- 4 Refugee crisis: Aylan's life was full of fear - in death, he is part of 'humanity washed ashore'
- 5 German police forced to ask public to stop bringing donations for refugees arriving by train
Senior British politicians tell David Cameron: When dead children are being washed up on beaches – it's time to act
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
If these extraordinarily powerful images of a dead Syrian child washed up on a beach don't change Europe's attitude to refugees, what will?
Britain to take more refugees as Cameron bows to pressure after more than 100,000 back our campaign
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
iJobs Money & Business
£20000 - £40000 per annum + OTE + Incentives + Benefits: SThree: Established f...
£20000 - £25000 per annum + OTE 40/45k + INCENTIVES + BENEFITS: SThree: The su...
£14000 - £16000 per annum: Recruitment Genius: This company was established in...
£20000 - £25000 per annum + OTE 40k: SThree: SThree are a global FTSE 250 busi...