China's CPI down 0.5% in Nov
China's consumer price index posted the first year-on-year drop in 11 years last month, as pork prices declined while nonfood prices remained subdued, the National Bureau of Statistics said on Wednesday. CPI, the main gauge of inflation, dropped by 0.5 percent year-on-year in November, marking the first decline since October 2009, according to the NBS.
Dong Lijuan, a NBS statistician, attributed the decline in consumer prices mainly to dropping food prices.
Pork prices, in particular, slumped by 12.5 percent year-on-year from a high comparison base last year as pork production continued to recover.
Nonfood prices edged down by 0.1 percent year-on-year in November, the bureau said, with the prices for transportation, especially petrol and diesel oil, dropping, while those for healthcare and education rising.
The core CPI, which excludes volatile food and energy prices, rose 0.5% year-on-year last month, the fifth consecutive month for the index to register the same growth, the bureau said.