China’s consumer price index (CPI) likely grew 3.1 percent in November from a year earlier, slightly down from 3.2 percent in October, China Daily reported Wednesday, citing consensus forecasts. November’s official CPI, a key gauge of inflation, is due out on Dec. 9. Stable food prices would account for much of the fall given that food makes up nearly one-third of the CPI basket, Bank of Communications was quoted as saying. UBS Securities made a similar forecast. Consensus estimates put CPI growth above 3 percent in the fourth quarter, with upward price pressure likely in 2014, the report said. China’s CPI grew 3.2 percent year on year in October. The figure remains well below the government’s full-year target of 3.5 percent.
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