Guangzhou (JLC), December 9, 2024 – China's consumer price index (CPI), a main gauge of inflation, rose 0.2% year on year in November, narrowing from a 0.3% growth in October, data from the National Bureau of Statistics (NBS) showed.
On a month-on-month comparison, the CPI was down 0.6% in November, the NBS data showed.
The month-on-month drop of CPI was mainly dragged by food prices, which were driven down by higher-than-average temperatures in November, said Dong Lijuan, an NBS statistician.
The national average temperature in November was the highest for the same period since 1961, bolstering production and transportation of agricultural goods and helping bring fresh food prices down, Dong said.
In January-November, the CPI was up 0.3% year on year, the NBS data showed.
The core CPI, which excludes food and energy prices, rose 0.3% from a year ago in November, the data showed.
Factory-gate price deflation eases
China's producer price index (PPI), which measures factory-gate goods prices, fell 2.5% year on year in November, narrowing from a 2.9% decrease in October, the NBS data showed.
On a month-on-month comparison, the PPI rose 0.1% in November, reversing a downtrend seen in five consecutive months, the NBS data indicated.
In January-November, the PPI dropped 2.1% from the same period of last year, the NBS data showed.
