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China’s consumer inflation rises, producer prices fall in Dec

by ChemOrbis Editorial Team -
  • 11/01/2016 (14:16)
According to media reports, data from China’s National Bureau of Statistics (NBS) showed that the country’s consumer inflation edged up to 0.5% on a monthly basis and to 1.6% on a yearly basis in December compared with 1.5% in the previous month owing to slow trading activities. The index reading was in line with economists’ expectations.

However, China’s December producer price index (PPI) dropped by 0.6% on the month and by 5.9% on the year, according to NBS’s data. December’s annual index was slightly above estimations, though still indicating a decline for the 46th consecutive month.

In December, China’s central bank reported that the country’s CPI may rise 1.7% on a yearly basis in 2016 while the PPI may decline 1.8% on the year.

Meanwhile, an official manufacturing purchasing managers’ index (PMI )released by the NBS showed that the country’s manufacturing index increased to a reading of 49.7 in December, which still showed a fifth month of contraction in line with Reuters economists’ expectations.
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