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China’s inflation slows, with food-price growth easing sharply

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China’s inflationary pressure eased in November, as COVID-19 outbreaks curbed domestic demand, official data showed Friday.

China’s consumer price index rose 1.6% from a year earlier in November, moderating from October’s 2.1% increase, the National Bureau of Statistics said. The result was higher than the 1.5% increase expected by economists surveyed by The Wall Street Journal.

Food prices rose 3.7% on year in November, down from October’s 7.0% increase. Pork prices rose 34.4%, easing from 51.8% in October, the statistics bureau said. Non-food prices increased 1.1% on year, steady with October.

China’s core CPI, which excludes food and energy prices, rose 0.6% from a year earlier in November, on par with the growth seen in October.

Compared with October, China’s CPI fell 0.2% in November.

The producer price index fell 1.3% from a year earlier in November, on par with the decline recorded in October and a slower decline than the 1.5% expected in the WSJ poll.

On a monthly basis, China’s PPI rose 0.1% in November.

Credit: marketwatch.com

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