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Copyright © 2024 CGTN. 京ICP备20000184号
Disinformation report hotline: 010-85061466
SITEMAP
Copyright © 2024 CGTN. 京ICP备20000184号
Disinformation report hotline: 010-85061466
China's consumer price index (CPI), a primary inflation measure, rose 0.2 percent annually for the full year of 2023, according to the National Bureau of Statistics on Friday. The CPI edged down 0.3 percent year on year in December.
Core CPI, which excludes the more volatile food and energy prices, went up 0.6 percent year on year last month.
On a monthly basis, the CPI went up 0.1 percent in December, reversing a 0.5-percent decline registered in November.
A salesperson stocks vegetables in a grocery store in Beijing, China, December 16, 2023. /CFP
China's producer price index (PPI), which tracks factory-gate prices, fell 3 percent in 2023 compared to 2022. The year-on-year decrease in December was 2.7 percent, lower than November's 3-percent drop.
The PPI data in December decreased by 0.3 percent on a month-on-month basis.
A worker at the assembly line at a tire factory in Weifang, Shandong Province, China, January 4, 2024. /CFP
Bruce Pang, chief economist at JLL Greater China, observed that both CPI and PPI data saw a narrowing in their year-on-year declines. He predicts a mid-term trend towards normalized inflation rates and foresees long-term improvements in China's economic performance.
Looking ahead to 2024, Pang told CGTN he anticipates a modest rebound in the country's overall price trends, with inflation expected to stay largely within a manageable range.