China’s Consumer Price Index (CPI) rose a tepid 1.5 percent in November from the same period a year ago, data released today showed. The number was slightly above a Reuters poll forecast of a 1.4 percent rise.
China’s Producer Price Index (PPI) dropped 5.9 percent in November on-year, in line with a Reuters poll of economists, the data from the National Bureau of Statistics showed.
CPI was flat on the previous month, while economists had predicted a 0.1 percent fall, while PPI was down 0.5 percent on October.
The November rise in consumer prices was driven by an uptick in the cost of food. Food CPI was up 2.3 percent on-year, while non-food items rose 1.1 percent.
But China’s producer prices fell as the manufacturing sector continued to stagnate, forcing companies to drop their wholesale prices in order to compete to stay in business.
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