November 2011 | Base Metals
Breaking View – Has China’s inflation turned a corner?
Data released earlier today shows that China’s CPI fell to 5.5% - the lowest since May 2011. After months of trying to cool the domestic property market, this release potentially gives room for the authorities to look to loosen monetary policy thereby preventing the economy stalling.
China’s consumer prices index (CPI) grew 5.5% year-on-year in October. Despite falling to the lowest rate since May, the figure was greater than the consensus forecasts of 5.4%. Inflation slowed as the monetary tightening measures aimed at cooling the domestic property market took hold. These measures reduced bank lending and negatively affected industrial production. Combined with the continued Eurozone debt...
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