Chinese inflation rises to 2.0 percent in November
Beijing – China’s inflation rate accelerated slightly to 2.0 percent in November, the National Bureau of Statistics said on Sunday.
It is the first increase in the consumer price index since August. Inflation stood at 1.7 percent in October.
The result compares with a median 2.1 percent forecast for November in a survey of 12 economists by Dow Jones Newswires.
Producer prices – which measure the cost of goods as they leave factories – declined 2.2 percent year-on-year, falling for the ninth straight month, the data showed. Producer prices fell 2.8 percent in October.
China’s economy grew 7.4 percent in the third quarter until the end of September, its weakest performance in more than three years and the seventh straight quarter of slowing expansion.
But recent numbers, including manufacturing, trade and industrial output, have led to optimism among economists that the world’s second biggest economy is rebounding.
China is scheduled to announce industrial production, retail sales and fixed asset investment figures for November later on Sunday.
Inflation rose 2.0 percent year-on-year in August, but fell to 1.9 per cent in September.
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94