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China's Prices Rise 4.9%
16.02.2011 11:18 "Agro Perspectiva" (Kyiv) —
Chinas consumer prices rose 4.9% in January from a year earlier, prompting worries that the worlds second-largest economy is falling behind in the fight against inflation, as are other countries in Asia. While the increase in the consumer price index, which was faster than Decembers 4.6%, doesnt sound especially high by U.S. standards-let alone the sky-high levels of Latin America in the 1980s-Chinese leaders are extraordinarily sensitive to inflation, which has long been associated with political unrest. The headline numbers also underplay the impact on many ordinary Chinese. The foods component, for instance, jumped 10.3%, and has averaged more than 10% for the past four months. Hundreds of millions of Chinese still live at or just above poverty levels, and so are especially sensitive to food increases.
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