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Consumer prices creep higher in China

Nov. 9, 2013 at 11:28 AM

BEIJING, Nov. 9 (UPI) -- China's National Bureau of Statistics said the annual rate of inflation rose to 3.2 percent in October, up one tick from September's 3.1 percent.

The inflation rate is creeping up closer to the top end of the government's target rate of 3.5 percent or lower, China's officials Xinhua News Agency reported Saturday.

NBS attributed the higher rate to food price inflation, which stalled in September but picked up again in October, rising 0.3 percent.

Wholesale prices dropped 1.5 percent from the previous October, NBS said.

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