HONG KONG, Dec. 13 (UPI) -- Rising food prices in China last month indicate that inflation may be on the rise, the New York Times reported Saturday.
The price of food, the main force driving inflation in China, rose 8.1 percent at the consumer level and 9.7 percent in commodities markets in the 12 months through November, Chinese officials said.
The disclosure came a day after Alan Greenspan, chairman of the U.S. Federal Reserve, warned of a risk the Chinese economy could overheat.
Drought in northeastern China has hurt the corn crop, while flooding in central China has depressed wheat yields.
More broadly, China's National Bureau of Statistics said consumer prices in November were 3 percent higher than a year ago.
Consumer prices have been rising steadily. Last October, China's consumer prices were 1.8 percent higher than the year before and in September, they were 1.2 percent higher.
