Posted 12/11/2023, 4:25:00 AM
China inflation slows again as consumer prices fall, producer prices decline further
- China's consumer price index dropped 0.5% in November from a year ago, indicating worsening deflation
- Food prices and global oil price declines contributed to the drop in inflation
- Services inflation also slowed to 1% year-over-year in November
- Producer price index has declined for 14 straight months, underscoring economic weakness
- Chinese policymakers have vowed more fiscal and monetary support to boost growth and prevent a "vicious loop" with deflation