China's November inflation rises to 2%

A local resident looks at sales promotion advertisements at a supermarket in Handan, North China's Hebei province, Dec 9, 2012.[Photo/Xinhua]

In the first 11 months, the CPI grew 2.7 percent year on year on average, marking a decline from the 3.3-percent rise in the first half of the year.

The NBS said in the same release that China's producer price index (PPI), which measures inflation at the wholesale level, fell 2.2 percent year on year in November.

It marked the ninth straight month of decline after the PPI dropped in March for the first time since December 2009.

However, the decline was smaller than the 2.8-percent decrease in October, indicating that the economy has been stabilizing.

The November PPI figure was in line with the country's latest purchasing managers index, which rose to 50.6 percent in November from 50.2 percent in October, suggesting that manufacturing activity has improved.

A mild rise in the CPI and a recovery in factory-gate prices may dampen expectations of further policy loosening as the economy recovers.

In order to buoy growth, the central bank lowered benchmark interest rates twice this year, cut banks' reserve requirement ratios by 100 basis points and pumped liquidity into the market.

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