China's CPI increased by 2.1%

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Tuesday, Jan 10 2017

China's CPI increased by 2.1%

Chinese consumer inflation rose at a slower but steady pace, while a measure of factory-gate prices improved sharply, pointing to improved productivity and growth in the economy. The consumer price index (CPI) advanced 2.1% from a year ago, after climbing 2.3% in November, the National Bureau of Statistics said in a report on Tuesday. Analysts in a median estimate forecast annualized CPI growth of 2.3%. Compared to November, consumer inflation rose 0.2%, following a 0.1% rise the previous month. Forecasts called for a 0.3% month-on-month gain.

A separate indicator of factory-gate prices known as the producer price index (PPI) surged 5.5% in the 12 months through December, compared to forecasts calling for a 4.6% year-over-year gain. That was the highest level since 2011. Producer inflation has now risen in each of the last four months, stemming a nearly five-year decline. Deflation at the producer level has been weakening all year long, as slower growth allowed the economy to mop up spare capacity. The producer price index first turned positive in September and has remained in the green ever since.

More in this category: « Australian Retail Sales rose 0.2% French Industrial Production up by 2.2% »

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