Core consumer prices, excluding food and energy prices, rose 0.6% year on year in November, the same as in October. On a monthly basis, the CPI also fell 0.5%, compared to the consensus and October figure of a 0.1% decline.
Producer prices also fell 3% year-on-year in November, faster than a 2.6% decline the previous month and compared with market estimates of a 2.8% decline.
This was the fourteenth month in a row in which the PPI fell and the fastest since August. Continued deflationary pressures in China signaled continued economic weakness, while domestic demand weakened.
Looking at the first eleven months of the year, they fell by 3.0%.
Investors are now looking to more economic data this week, including retail sales and industrial production decisions and the Chinese central bank’s prime rate decisions this week, for further guidance.
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