Chinese inflation rate hits two-year high

China's inflation rate hit a two-year high in October at 4.4%, driven by an increase in food prices.

The figure is higher than analysts predicted and is up from September's 3.6%. It shows the Chinese government's efforts to control price rises have not paid off despite raising interest rates and restraining bank lending. The Bureau of Statistics also announced China's industrial output rose by 13.1% in October, slightly down on the 13.3% increase recorded in September. Additionally, retail sales have increased by 18.6%.