Financial News: China Inflation Eases Unexpectedly To 5-Month Low; PPI

China Inflation Eases Unexpectedly To 5-Month Low; PPI Falls

12/09/2024 - 01:52:00 (RTTNews)

(RTTNews) - China's consumer price inflation eased unexpectedly to a five-month low in November and producer prices continued to fall suggesting that the sequence of stimulus measures initiated by Beijing had limited impact on reviving domestic demand.

The consumer price index posted an annual increase of 0.2 percent, the National Bureau of Statistics reported Monday. Inflation was expected to rise to 0.5 percent from 0.3 percent in October.

The slight rise in November inflation was driven by food prices, which climbed 1 percent. Pork prices surged 13.7 percent and fresh vegetable prices moved up 10.0 percent.

Core inflation that excludes food and energy rose slightly to 0.3 percent in November from 0.2 percent in October.

On a monthly basis, the decline in consumer prices doubled to 0.6 percent from 0.3 percent in October. Economists had forecast a 0.4 percent drop for November.

Data showed that producer prices decreased for the 26th consecutive month. Producer prices fell 2.5 percent on a yearly basis but slower than the 2.9 percent decrease posted in the previous month. Prices were expected to fall 2.8 percent.

With the boost from stimulus likely to be short-lived and the fundamental causes behind the imbalance between supply and demand not being adequately addressed, much upside to inflation is unlikely going forward, Capital Economics' economist Gabriel Ng said. The economist expects inflation to average just 0.5 percent in 2025 and 2026.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Pending Home Sales Surge To Highest Level Since February 2023 (02 hr(s), 08 min(s), 46 sec(s) ago)
(RTTNews) - A report released by the National Association of Realtors on Monday showed pending hom ...Full Story»

Chicago Business Barometer Unexpectedly Deceases In December (02 hr(s), 11 min(s), 46 sec(s) ago)
(RTTNews) - Chicago-area business activity unexpectedly contracted at an accelerated rate in the m ...Full Story»

Slovakian Economic Confidence Strengthens In December (03 hr(s), 52 min(s), 46 sec(s) ago)
(RTTNews) - Slovakia's economic sentiment improved to the highest level in six months, while c ...Full Story»

Cyprus Industrial Output Grows 2.0% In October (04 hr(s), 21 min(s), 46 sec(s) ago)
(RTTNews) - Industrial production in Cyprus expanded at an accelerated pace in October, figures fr ...Full Story»

Portugal Inflation Accelerates To 5-Month High; Industrial Production Falls (04 hr(s), 44 min(s), 46 sec(s) ago)
(RTTNews) - Portugal's consumer price inflation increased at the end of the year to the highes ...Full Story»

Croatia Retail Sales Growth Stable At 6.7% (05 hr(s), 26 min(s), 46 sec(s) ago)
(RTTNews) - Croatia's retail sales expanded at a steady pace in November, data from the Croati ...Full Story»

Swiss KOF Economic Barometer Declines In December (05 hr(s), 31 min(s), 46 sec(s) ago)
(RTTNews) - A measure of the turning points in Switzerland's economy declined in December afte ...Full Story»

Slovenia Inflation Rises To 1.9%, Highest In 7 Months (06 hr(s), 35 min(s), 46 sec(s) ago)
(RTTNews) - Slovenia's consumer price inflation accelerated somewhat at the end of the year to ...Full Story»