Oil Prices Rise on China’s Inflation Report

- February 15th, 2011

ABC News reports that Oil prices rose Tuesday on news that China’s inflation rate rose less than expected.

ABC News reports that Oil prices rose Tuesday on news that China’s inflation rate rose less than expected.

The market news is quoted as saying:

China’s inflation rate was 4.9 percent in January, largely due to a double-digit increase in food prices. It was less than the 5.4 percent rate that analysts expected but higher than the 4.6 percent rate in December.

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