BEIJING – China’s consumer inflation decelerated in November as food prices rose at a slower pace, official data showed Sunday.
The consumer-price index rose 2.2% in November from a year earlier, compared with a 2.5% gain in October, the National Bureau of Statistics said.
Food prices rose 2.5% from a year earlier after climbing 3.3% in October. Fresh-vegetable prices climbed 1.5% in November, slowing markedly from October’s 10.1% increase and driving the headline index 0.03 percentage point higher. Pork prices, which have been the main drag, fell 1.1% in November after declining 1.3% in October.
Non-food prices rose 2.1% from a year earlier, compared with a 2.4% increase in October. Gasoline and diesel prices surged 12.8% and 14.2%, respectively, leading gains in non-food prices, the bureau said.
The key inflation reading was a tad lower than the median 2.4% gain forecast of economists polled by The Wall Street Journal. The government aims to keep inflation under about 3% this year.
On a month-over-month basis, the CPI fell 0.3% in November. In October, the index edged up 0.2% from the previous month.
The producer-price index rose 2.7% in November, compared with a 3.3% on-year increase in October. The reading for factory-gate prices was slightly higher than the 2.6% increase forecast of economists polled in the survey.
The PPI inched down 0.2% in November from a month earlier. In October, it rose 0.4% from the preceding month.