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Chinanews, Beijing, December 6 – According to the Policy Research Office of the National Development and Reform Commission of China, inflation has become a global phenomenon nowadays, and Brazil, Russia, India and China, the so-called BRIC, are all under its pressure, and witness fierce CPI hike.
In last September and October, Russia, South Africa, Argentina, Indonesia, India and China all witnessed a CPI hike of over 5%. The proportions in Brazil in those two months were 4.1% and 3.3% respectively. China ranked 8th on the list with its CPI hike of 6.5%. The continuous growth of global economy, excessive liquidity1, depreciation2 of the US dollar, the reduction of output in major agricultural countries, the production limit of OPEC, the growing demand for food and bio-fuels, etc should all be blamed for inflation.
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