A surge in China’s consumer inflation to a seven-year high coupled with a decline in the producer price index are squeezing Beijing’s options to ease monetary policy.
The official consumer price index rose to 4.5 per cent in November, according to the National Bureau of Statistics, while the PPI fell 1.4 per cent, its fifth consecutive month of decline.
Analysts said soaring consumer inflation, powered by runaway pork prices, and falling raw material prices that pointed to weak industrial demand, were limiting China’s policy tools to fight the economic downturn.
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