According to the National Bureau of Statistics (NBS) of China, consumer prices and producer prices growth slowed in November.
The Chinese producer price index (PPI) grew by an annualized 5.8% in November, on par with economists’ expectations and down from an increase of 6.9% in October. The rise in commodity prices slowed to 9.7% from 11.6% in November.
China's consumer price index (CPI), a main gauge of inflation, rose by 1.7% year-on-year in November from a 1.9% rise in the previous month, the NBS said.
The government’s consumer inflation target is at around 3% this year. Food prices dropped by 1.1% year-on-year after edging down by 0.4% in October, marking 10 consecutive months of monthly declines.
Non-food prices climbed by 2.5% on a yearly basis after rising by 2.4% in October. Consumer prices excluding food and energy prices saw a 2.3% increase, the same pace as in the prior month. That was the fastest pace of growth over the past six years.
