As per the latest data released by the National Bureau of Statistics showed on Friday, China’s consumer price index (CPI), the main gauge of inflation, rose 1.6 percent in November year-on-year.
China’s PPI drops in November, CPI slows caused by weak activity
China’s factory gate prices showed an annual fall for a second month in November, amid soft domestic demand and sliding commodity prices, and consumer inflation slowed, indicating weak economic activity in November.
The producer price index (PPI) was down 1.3 per cent on a year earlier, unchanged from an annual contraction seen in October, according to National Bureau of Statistics (NBS) data issued on Friday. That is slower than a 1.4 per cent fall tipped in a Reuters poll.
The November consumer price index (CPI) climbed 1.6 per cent from a year earlier, slowing from the 2.1 per cent annual rise seen in October and in line with a Reuters poll.
A surge of COVID-19 cases to historic highs, a property sector slumping under huge debts and downbeat consumer sentiment have dragged on China’s economy, the world’s second-largest.
