2023-12-11 08:05:00
Data from the National Bureau of Statistics showed that the CPI fell by 0.5% year-on-year in November, with negative growth for two consecutive months, falling by 0.5% month-on-month; the PPI fell by 3% year-on-year, turning from flat to month-on-month, falling by 0.3%. The core CPI, which excludes food and energy prices, rose 0.6% year-on-year, the same increase as last month, and continued to maintain a moderate increase.
A woman selects vegetables at a supermarket in Huaihua city of Hunan province, Oct 13, 2023. [Photo/Xinhua]
China’s consumer prices fell for a second consecutive month in November while factory-gate prices declined at a faster pace, data from the National Bureau of Statistics showed on Saturday.
Data released by the National Bureau of Statistics on December 9 showed that the national consumer price index (CPI) fell for the second consecutive month year-on-year in November, while the year-on-year decline in the national industrial producer price index (PPI) expanded.
The country’s consumer price index, a main gauge of inflation, dipped by 0.5 percent year-on-year in November, the NBS said, following a 0.2 percent drop in October.
The Consumer Price Index (CPI) is the main indicator of inflation. According to data from the National Bureau of Statistics, the national CPI fell by 0.5% year-on-year in November, while the national CPI fell by 0.2% in October.
Dong Lijuan, an NBS statistician, said the decline is mainly due to the drop in prices of food and energy.
According to Dong Lijuan, a statistician at the National Bureau of Statistics, the decline in CPI was mainly affected by factors such as downward fluctuations in food and energy prices.
Food prices fell 4.2 percent year-on-year in November, compared with a 4 percent drop in October. The decline in pork prices, in particular, widened from 30.1 percent in October to 31.8 percent in November.
In November, my country’s food prices fell by 4.2% year-on-year, while the decline in October was 4%. The year-on-year decline in pork prices expanded in November to 31.8% from 30.1% in October.
Non-food prices increased by 0.4 percent year-on-year in November, down from a 0.7 percent rise in October. And the energy prices dropped by 1.3 percent in November following a 1.2 percent rise in October.
Non-food prices rose 0.4% year-on-year in November, down from the 0.7% increase in October. Energy prices fell 1.3% year-on-year in November, following rising 1.2% year-on-year in October.
On a month-on-month basis, the CPI fell by 0.5 percent, versus a 0.1 percent decline in October.
On a month-on-month basis, the national CPI fell by 0.5%, while it fell by 0.1% month-on-month in October.
The growth in core CPI, which excludes volatile food and energy prices and is deemed a better gauge of the supply-demand relationship in the economy, came in at 0.6 percent year-on-year in November, the same as October.
Core CPI, which excludes volatile food and energy prices, rose 0.6% year-on-year in November, the same increase as last month. Core CPI is considered a better measure of supply and demand in the economy.
Meanwhile, China’s producer price index, which gauges factory-gate prices, dropped by 3 percent from a year ago in November, following a 2.6 percent fall in October, the NBS said.
At the same time, data from the National Bureau of Statistics showed that my country’s industrial producer price index (PPI) fell by 3% year-on-year in November and by 2.6% year-on-year in October.
Dong said the wider PPI decline was affected by factors including declining international prices of oil and lackluster demand for some industrial products.
Dong Lijuan pointed out that the larger year-on-year decline in PPI was affected by factors such as the fall in international oil prices and weak market demand for some industrial products.
On a month-on-month basis, the PPI dipped by 0.3 percent, following a flat reading in October, according to the NBS.
According to data from the National Bureau of Statistics, on a month-on-month basis, the national PPI fell by 0.3% in November from being flat last month.
English source: China Daily.com
Translator & Editor: Dani
[Editor in charge: Chen Danni]
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