China's November inflation eased to 3 percent year-on-year from 3.2 percent in October largely due to lower food prices, UPI cited government data as showing Monday. The National Bureau of Statistics, which released the November consumer price index numbers, said food prices dropped 0.2 percent from October, while prices of non-food products remained flat. Food prices account for a third of the CPI index. In the first 11 months of 2013, China's inflation as measured by the CPI rose 2.6 percent year on year, or well below the government's full-year target of 3.5 percent. The data also showed China's producer price index, which measures inflation at the wholesale level, contracted 1.4 percent year-on-year in November, following a 1.5-percent drop in October.
