By IANS,
Beijing : China’s inflation is predicted to fall for a fourth consecutive month in November with the consumer price index (CPI) likely to drop to 4.3 percent, a bank report said.
Food prices have dropped as warm weather has allowed for an abundant winter supply of vegetables, eggs and pork, according to a Bank of Communications’ report.
According to data from the Ministry of Commerce, pork prices dropped 1 percent than last week and were down 10.7 percent cumulatively since mid-September, reported Xinhua.
Egg prices have fallen in consecutive weeks, down 5 percent in the past two months, as supplies increased, the ministry said.
Food prices have a one-third weighting in the calculation of China’s CPI, which eased to 5.5 percent last month, down from 6.1 percent in September.
In addition to lower food prices, declines in global commodity prices and weakening tail-raising factors will also contribute to the CPI’s decline in November, the report said.