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China's CPI increased by 2.3%

Friday, Dec 09 2016
China's CPI increased by 2.3%

Measures of Chinese inflation strengthened further in November, signs of improving demand in the world’s second-largest economy. China’s consumer price index (CPI) advanced 2.3% from a year ago, after climbing 2.1% in October, the National Bureau of Statistics said in a report on Friday. A median estimate of economists called for a 2.2% year-over-year gain. Compared to October, consumer prices rose 0.1%, matching forecasts. That followed a 0.1% decline the previous month.

A separate indicator of factory-gate prices known as the producer price index (PPI) soared 3.3% in the 12 months through November, well above forecasts calling for 2.2%. Producer inflation has now risen in each of the last three months after nearly five years of decline. Producer price deflation has been abating all year as the economy continued to absorb spare capacity. Producer prices first turned marginally positive in September and have remained on the right side of growth ever since.

 

Aussie is currently being traded around 0.7480 level. Pair is likely to find support aound 0.7430 area and resistance above 0.7530 handle.

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