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China - Economy & trade

Chinese inflation hits 11-year high

By Richard McGregor in Beijing

Published: December 11 2007 04:48 | Last updated: December 11 2007 19:14

Chinese inflation reached an 11-year high of 6.9 per cent in November, a level that will harden Beijing’s resolve to tighten monetary policy and probably further delay energy price reform.

The annual inflation rate, which hit 6.5 per cent in October, is driven primarily by food prices, which rose by 18.2 per cent from a year earlier, mainly because of a shortage of pigs and rising global feed costs.

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