China’s National Bureau of Statistics reported earlier today that inflation has declined further still, with consumer inflation dropping in November to 4.2% on an annualized basis, well off the previous 5.5% rate and below analysts’ expectations of 4.6%. Historical records indicate that that is the lowest level of consumer inflation in more than a year, and clearly makes July’s 3-year peak of 6.5% seem like a distant memory. Input price inflation also fell in November to 2.7%, again beating the consensus call of 3.3% and improved from October’s 5.0%. Read more