China’s consumer prices saw a modest rise in November, with the Consumer Price Index (CPI) increasing by 0.2% year-on-year, according to the National Bureau of Statistics (NBS). This marks a slight slowdown from October’s 0.3% increase, largely due to slower food price rises.
Dong Lijuan, chief statistician at the NBS, attributed the easing inflation to unseasonably warm weather boosting agricultural production and logistics. “The warmer temperatures helped lower prices for fresh produce, pork, fruit, and seafood,” Dong explained.
Non-food prices also dipped as colder weather later in the month reduced tourism and travel demand, causing a decline in service prices.
Meanwhile, China’s Producer Price Index (PPI), a measure of factory-gate prices, decreased by 2.5% year-on-year, narrowing from the 2.9% decline in October. On a monthly basis, the PPI edged up by 0.1% after a previous decrease of 0.1%.
Economists point to recovering domestic demand and effective policy measures as key factors in the improving PPI figures. “Coordinated policy efforts have boosted corporate and household confidence,” said Bruce Pang, chief economist at JLL Greater China. “This has stabilized and accelerated domestic demand growth driven by consumption and investment, sustaining economic recovery.”
Reference(s):
cgtn.com
