China's Producer Price Inflation Highest Since 2011; CPI Inflation Tops Forecast
08 Diciembre 2016 - 7:34PM
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China's factory gate inflation increased to a more than
five-year high in November on higher commodity prices and consumer
price inflation exceeded expectations due to rising food costs.
Producer price inflation accelerated notably to 3.3 percent in
November from 1.2 percent in the previous month, the National
Bureau of Statistics showed Friday. Inflation was expected to rise
to 2.3 percent.
Producer price inflation had turned positive for the first time
in more than four years in September.
Consumer price inflation rose to 2.3 percent in November from
2.1 percent in October. A similar high rate was last seen in April.
The pace also exceeded the expected 2.2 percent.
Nonetheless, the figure continues to remain below the
government's full-year target of 3 percent.
Month-on-month, producer prices gained 1.5 percent and consumer
prices edged up 0.1 percent.
Food inflation climbed to 4 percent from 3.7 percent on higher
pork prices. Non-food inflation edged up to 1.8 percent from 1.7
percent.
The big picture is that China's stimulus driven recovery has
stoked domestic price pressure this year, Julian Evans-Pritchard, a
China economist at Capital Economics, said.
Looking ahead, the economist said this reflation may begin to
run out of steam next year as China's economy starts to slow again.
Producer price inflation is expected to peak around 5 percent
during the first half of next year, before beginning to edge down
again.
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