China Prices Drop at Fastest Pace in 3 Years as Deflation Risks Grow
• China's consumer prices fell 0.5% year-on-year in November, the fastest decline in 3 years • Factory-gate deflation deepened with producer prices falling 3.0% year-on-year • Weak domestic demand and global factors like energy prices are causing deflationary pressure • Policymakers are concerned about persistent weak demand hampering growth • Authorities hint at more stimulus to spur domestic demand and support economic recovery in 2024