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Shanghai's CPI rises in October
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Consumer prices in Shanghai were up 5.1 percent last month compared with a year ago, led by surges in food costs, which make up about one-third of the Consumer Price Index, according to the city's Statistics Bureau.

Vegetable production was down sharply last month compared to a year ago due to Typhoon Krosa, which pushed prices up 55.1 percent from October, 2006, contributing 1.2 percentage points to the October index.

The prices of pork and egg dropped slightly from September, however.

Edible oil prices were up 34.5 percent from a year ago in October, although the increase is slowing.

The National Day holiday spurred the city's tourism industry while climbing gold and platinum prices on international markets lead to higher retail spending.

Travel agencies saw their income jump 7.3 percent from September as airline ticket and hotel booking jumped in price over the holiday.

The country's consumer prices last month rose to the highest rate in more than a decade.

The increase in the key inflation gauge puts further pressure on the central bank to impose more stringent measures to cool the economy, analysts said.

The Consumer Price Index in October jumped 6.5 percent compared to a year earlier, equal to the surge in August, which was the biggest one-month increase since a seven percent rise in December 1996.
(Shanghai Daily November 19, 2007)

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