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China Inflation Jumps To Two Year Highs

China Inflation Jumps To Two Year Highs - A jump in food costs drove China's inflation to a 25-month high in October despite government efforts to cool living costs, raising the possibility it might impose new controls that could further slow economic growth.

The 4.4 percent inflation rate - due mostly to a 10.1 percent increase for food - was far above the official target of 3 percent and a sharp jump from September's 3.6 percent, official figures showed Thursday. The increases exceeded forecasts by private sector analysts.

While other governments try to shore up shaky growth, Beijing wants to cool inflation and guide China's rapid expansion to a more sustainable level after its stimulus-fueled rebound from the global crisis. It raised interest rates last month and ordered banks on Wednesday to increase reserves in a move to curb lending.

Inflation is so far limited to food but could spread as money from Beijing's stimulus and a flood of bank lending courses through the economy, said William Hess, managing director of China Analytics, a Beijing research firm.

"They're going to have to be very careful about how they manage inflation overall," Hess said. "They don't want it to spread more broadly and contribute to a broader public concern about where prices are heading."

China Inflation Jumps To Two Year Highs
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