China Inflation November 2017


China: Inflation declines in November

December 9, 2017

In November, consumer prices were flat from the previous month, down from October’s 0.1% increase. The print reflected that lower prices for food, tobacco and liquors as well as for education, culture and recreation were offset by higher prices in all the remaining categories.

Inflation fell from October’s 1.9% to 1.7% in November. The print undershot the 1.8% that market analysts had expected. Annual average inflation, meanwhile, steadied at 1.6% in November.

Producer inflation fell from 6.9% in October to 5.8% in November, slightly below analysts’ expectations of 5.9%. Annual average producer inflation rose from October’s 6.2% to 6.4% in October, marking the highest reading in over six years.

FocusEconomics Consensus Forecast participants expect that consumer inflation will average 2.2% in 2018, which is unchanged from last month’s estimate. In 2019, the panel sees consumer inflation at 2.3%. Meanwhile, the panel expects producer inflation to be 1.3% in 2018, which is up 0.3 percentage points from last month’s projection. In 2019, panelists see producer inflation at 1.1%.

Author: Ricard Torné, Lead Economist

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China Inflation Chart

China Inflation November 2017

Note: Year-on-year and annual average variation of consumer price index in %.
Source: National Bureau of Statistics of China (NBS).

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