FX.co ★ Chinese inflation slows in November

According to the National Bureau of Statistics (NBS) of China, consumer prices and producer prices growth slowed in November.

The Chinese producer price index (PPI) grew by an annualized 5.8% in November, on par with economists’ expectations and down from an increase of 6.9% in October. The rise in commodity prices slowed to 9.7% from 11.6% in November.

China's consumer price index (CPI), a main gauge of inflation, rose by 1.7% year-on-year in November from a 1.9% rise in the previous month, the NBS said.

The government’s consumer inflation target is at around 3% this year. Food prices dropped by 1.1% year-on-year after edging down by 0.4% in October, marking 10 consecutive months of monthly declines.

Non-food prices climbed by 2.5% on a yearly basis after rising by 2.4% in October. Consumer prices excluding food and energy prices saw a 2.3% increase, the same pace as in the prior month. That was the fastest pace of growth over the past six years.