China’s Consumer Price Index eases to 1.6% YoY in November vs. 1.0% expected

China’s Consumer Price Index (CPI) softened to 1.6% in November on an annualized basis when compared to the 2.1% print booked in October, the latest data from the National Bureau of Statistics (NBS) showed on Friday. The market consensus was for a reading of 1.0%.

The country’s monthly CPI arrived at -0.2% vs. 0.1% expected and 0.1% previous.

The NBS reported that the November food CPI came in at +3.7% from a year ago while non-food CPI increased by +1.1%.

The factory-gate prices in China, represented by the Producer Price Index (PPI), fell  1.3% in the reported month as against -1.5% expected and a 1.3% decrease reported in October.

Market reaction

AUD/USD was little impacted by the Chinese inflation figures, as it held its higher ground near 0.6800, adding 0.46% on the day, as of writing.

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