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Here’s what you need to know about China in the past 24 hours
China's consumer prices saw a modest growth in November compared to a year earlier, while the economy has sustained the recovery momentum driven by the government's barrage of support policies since September.
According to data released by the National Bureau of Statistics (NBS) on Monday, China's consumer price index (CPI), a main gauge of inflation, increased by 0.2 percent year-on-year in November, slightly lower than the 0.3 percent rise registered in October.
"This is largely due to a deceleration in food price rises," said NBS chief statistician Dong Lijuan.
The core CPI, which excludes food and energy prices, rose 0.3 percent from a year ago in November, up from 0.2 percent in October.
Looking forward, China's CPI is projected to experience a year-on-year increase as meat demand will be likely to rise and cold winter weather may disrupt vegetable supplies, pushing up food prices, said Wen Bin, chief economist at China Minsheng Bank.
The NBS data also showed the country's producer price index (PPI), which measures costs for raw material supplies at the factory gate, dropped by 2.5 percent year-on-year in November, narrowing from the 2.9 percent decline seen in October.
On a month-on-month basis, the PPI rose by 0.1 percent in November, following a drop of 0.1 percent in October.
Experts attributed the increases in core CPI and PPI in November to the sustained economic growth since September. China has implemented a series of heavyweight growth-boosting measures, including massive consumer goods trade-ins, to bolster the economy this year.
In order to promote significant improvements in macroeconomic indicators, more supportive policies are expected in 2025 to ramp up domestic consumption, elevate market expectations, and strengthen internal economic growth momentum, experts noted.
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