China’s Inflation Hit a 28-Month High in November

China’s consumer price index rose 5.1 percent in November, the government said early Saturday. It was the sharpest jump in 28 months and the latest indication that inflation in the country is soaring and a threat to the nation’s fast-growing economy. The index, a major gauge of inflation, was significantly higher than its October reading of 4.4 percent, and it is far above the government’s target level of 3 percent for this year, according to the National Bureau of Statistics. The rise was attributed largely to food prices, which rose about 11 percent in November, the government said. Worried about soaring food prices and inflation, the government recently raised interest rates and moved several times to rein in bank lending. The government has also instituted price controls and released food reserves in agricultural areas in the hopes of preventing food prices from jumping.

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