China’s consumer price growth fell to a five-month low in November, missing expectations with a year-on-year increase of just 0.2%, according to data released Monday by the National Bureau of Statistics.
Analysts surveyed by Reuters had anticipated a slight rise in retail inflation to 0.5% for November, up from 0.3% in October. Core inflation, which excludes the volatile prices of food and fuel, increased to 0.3% in November, compared to 0.2% the previous month.
Year-over-year, pork prices surged by 13.7%, while fresh vegetables rose by 10.0%.
Meanwhile, China’s producer price index, reflecting wholesale inflation, saw a decline for the 26th consecutive month. Producer inflation dropped by 2.5% year-on-year in November, slightly better than the anticipated 2.8% decrease from the Reuters poll. Among industrial producers, the prices of ferrous metal materials led the declines with a drop of 7.1%, followed by fuel and power, which fell by 6.5%, and chemical raw materials, down by 5%.
China is set to release its trade data for November on Tuesday, with retail sales figures expected next Monday.
