China inflation at 7%; rises fastest in 11 years
China’s inflation accelerated to the quickest pace in more than 11 years after the worst snowstorms in half-a-century disrupted food supplies.
By Agencies |
HONG KONG: China���s inflation accelerated to the quickest pace in more than 11 years after the worst snowstorms in half-a-century disrupted food supplies.
Consumer prices rose 7.1% in January from a year earlier, the statistics bureau said on Tuesday, after gaining 6.5% in December.
Food prices soared 18% after blizzards paralysed transport systems and destroyed crops.
The government faces the challenge of curbing inflation without derailing the expansion. Snowstorms in provinces including Zhejiang and Guangxi killed 107 people and caused 111 billion yuan ($15.5 billion) of damage.
Consumer prices rose 7.1% in January from a year earlier, the statistics bureau said on Tuesday, after gaining 6.5% in December.
Food prices soared 18% after blizzards paralysed transport systems and destroyed crops.
The government faces the challenge of curbing inflation without derailing the expansion. Snowstorms in provinces including Zhejiang and Guangxi killed 107 people and caused 111 billion yuan ($15.5 billion) of damage.
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