China’s consumer inflation falls short, hits 5-month low as deflationary pressure persists

Consumer price growth in China missed expectations in November, hitting a five-month low, reflecting persistent economic weakness despite recent monetary policy easing.

This figure fell short of the 0.4 per cent growth forecast in a Bloomberg survey of economists.

The slight increase in November was driven largely by food costs, which surged by 1 per cent year on year, with vegetable and pork prices rising by 10 per cent and 13.7 per cent, respectively.

However, prices in other sectors declined, including a 3.1 per cent drop in home appliance prices, a 0.3 per cent decrease in housing rents and a 4.8 per cent reduction in vehicle prices.

NBS chief statistician Dong Lijuan attributed the changes to high temperatures and declining travel demand.