According to data released by the National Bureau of Statistics yesterday, the consumer price index (CPI) finally “turned positive†in November after experiencing a negative growth for 10 consecutive months. However, Sheng Laiyun, a spokesperson for the National Bureau of Statistics, stressed that CPI has turned from negative to positive, mainly driven by rising food and housing prices, and there is no inflation.
CPI continued to narrow from the negative to positive PPI decline
In November, consumer price (CPI) rose by 0.6% year-on-year (up 2.4% in the same month of the previous year), which turned from a decline in the previous month to a rise; in November, the CPI rose by 0.3%. From January to November, CPI decreased by 0.9% year-on-year (up 6.3% in the same period of last year), which was 0.2 percentage points lower than that in January-October.
In November, the industrial product price (PPI) fell by 2.1% year-on-year (up 2.0% in the same month of the previous year), a decrease of 3.7 percentage points from the previous month; in November, the PPI rose by 0.6%. From January to November, PPI decreased by 6.0% year-on-year (up 7.6% in the same period of last year), and the decrease was 0.4 percentage points lower than that in January-October.
CPI continued to narrow from the negative to positive PPI decline
In November, consumer price (CPI) rose by 0.6% year-on-year (up 2.4% in the same month of the previous year), which turned from a decline in the previous month to a rise; in November, the CPI rose by 0.3%. From January to November, CPI decreased by 0.9% year-on-year (up 6.3% in the same period of last year), which was 0.2 percentage points lower than that in January-October.
In November, the industrial product price (PPI) fell by 2.1% year-on-year (up 2.0% in the same month of the previous year), a decrease of 3.7 percentage points from the previous month; in November, the PPI rose by 0.6%. From January to November, PPI decreased by 6.0% year-on-year (up 7.6% in the same period of last year), and the decrease was 0.4 percentage points lower than that in January-October.
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