Quote from article "China's consumer price index rose to a 28-month high of 5.1% in November and could jump another 5-6% in the first half of 2011 according to HSBC economist Qu Hongbin. More importantly, food costs climbed 11.7% in November year-to-year and a survey released by the Central Bank revealed that Chinese consumers are more concerned about inflation than at any time in the past decade http://www.asx.com.au/products/indices/types/sector.htm
The Chinese are cashed up, so when commodities are depressed they stockpile. Apparently they have islands in the sea made from Aussie iron ore !
They should not calculate the "volatile" food and energy so they could come up with similar figures like the US.
China are not stupid. They're offloading a lot of US debt now into supressed commodities across the board. They're already well ahead of getting out of USD and know where real wealth lies.
