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Consumer inflation in China slowed more than expected

In November, China's consumer inflation slowed more than expected. Producer inflation at the factory gate fell sharply, leaving room for prudent monetary policies to be maintained. The consumer price index (CPI), a main gauge of inflation, rose 1.7 percent year-on-year in November, down from October's 1.9 percent, according to the National Bureau of Statistics.

The CPI has grown less than 2 percent for ten straight months, pointing to mild inflation in the world's second-largest economy. NBS statisticians attributed the slower inflation growth to a decrease in food prices, which accounts for a significant part of the CPI calculation, according to thecattlesite.com.

Food prices fell 1.1 percent in November year-on-year, 0.7 percentage points more than the decline registered in October.

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