Chinese shoppers Inflation in China slowed in November, giving the government more room to push ahead with its slate of financial reforms. The consumer price index rose 3 per cent year-on-year, down from its 3.2 per cent pace in October and comfortably below the official 3.5 per cent target for 2013. A drop in food prices from a month earlier was the main source of downward pressure on inflation in November. Producer prices remained in deflationary territory, dropping 1.4 per cent year-on-year, though that was up slightly from October’s 1.5 per cent decline. Weak commodity prices have suppressed factory-gate inflation this year. When Chinese financial institutions unleashed a flood of credit earlier this year, there were concerns that the country would eventually face higher inflation. But the central bank began to act in June to withdraw excess cash from the financial system, and the subdued inflation readings are testament […]