Consumer prices in China rose for the tenth consecutive month in November. But the pace of the gain slowed as deflation trends continue to drag on the economy.
National Bureau of Statistics figures show the consumer price index edged up 0.2 percent from the same month last year. This was led by higher food costs, such as for pork and vegetables.
The pace of the advance slowed from October, when the index rose 0.3 percent.
Prices of big-ticket items like automobiles fell, reflecting the frugal mood among consumers. Weak housing sales also prompted discounts on furniture and home appliances.
The producer price index slid 2.5 percent from a year ago.
China's central bank cut interest rates in September in an effort to spark more growth in the economy. The government also announced financial aid packages for local regions hit hard by the slump in property sales.
But it's unclear at this stage how effective the measures will be to boost domestic demand.
National Bureau of Statistics figures show the consumer price index edged up 0.2 percent from the same month last year. This was led by higher food costs, such as for pork and vegetables.
The pace of the advance slowed from October, when the index rose 0.3 percent.
Prices of big-ticket items like automobiles fell, reflecting the frugal mood among consumers. Weak housing sales also prompted discounts on furniture and home appliances.
The producer price index slid 2.5 percent from a year ago.
China's central bank cut interest rates in September in an effort to spark more growth in the economy. The government also announced financial aid packages for local regions hit hard by the slump in property sales.
But it's unclear at this stage how effective the measures will be to boost domestic demand.
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Summary
10th consecutive monthly increase in Chinese consumer prices, albeit at a slower pace due to deflationary trends. Food costs rose (pork, vegetables), but big-ticket items like cars decreased due to consumer frugalness and weak housing sales. Producer price index declined by 2.5%. Interest rate cuts
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ID: ec819da1-14b7-40a1-b96d-095654824df1
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20241209_B04/
Created: 2024/12/10 07:00
Updated: 2025/12/08 08:00
Last Read: 2024/12/10 07:26