Economic Buzz: Chinas Consumer Price Inflation Eases In November

9 Dec 2022 , 10:53 AM

Chinas consumer price inflation continued to ease in November and factory gate prices decreased again as strict zero-Covid strategy dragged on economic activity, depressing inflationary pressures while spiraling costs act as utmost policy constraint in major economies. Consumer prices posted an annual increase of 1.6 percent in November, after Octobers 2.1 percent gain, the National Bureau of Statistics reported. November inflation stands well below Beijings official target of around 3 percent for the year. Within overall consumer prices, food price inflation eased sharply to 3.7 percent. At the same time, non-food prices posted a steady growth of 1.1 percent. On a monthly basis, consumer prices slid 0.2 percent, as expected. Data showed that core inflation that excludes food and energy dropped 0.6 percent, unchanged from October. Another data from the NBS showed that producer prices dropped for the second straight month in November. Factory gate prices fell 1.3 percent, the same pace of decrease as seen in October.Powered by Commodity Insights