CPI and PPI of China lower than expectation last month
National Bureau of Statistics announced that, CPI of last month increased 1.9% year-on-year, lower than the expected 2.1% and the 2.2% record for November 2018; PPI of last month raised by 0.9% year-on-year, which is the lowest since September 2016 and lower than the estimated 1.6%. It also signals a decrease by 1% month-on-month. The total CPI of Mainland China went up by 2.1% comparing to last year, while the total PPI grew by 3.5% year-on-year.
According to the statistic announced by the bureau, CPI of December 2018 for both city and village increased by 1.9%; food price rose 2.5% while non-food price increased 1.7%; consuming price increased by 1.7% and service price went up by 2.1%. CPI remained unchanged month to month, in which food price increased 1.1% but non-food price decreased by 0.2%.
PPI fell by 1% month-on-month; the range of declining deteriorated by 0.8% comparing to November last year. The price of means of production decreased by 1.3%. Among major industries, petroleum and natural gas extraction severely went down by 12.9% year to year and by 5.4% compared to November last year.