China’s annual inflation rate drops to 0.1 percent in December, matching estimates
Date
1/12/2025 2:27:17 AM
(MENAFN) China’s annual inflation rate dropped to a nine-month low of 0.1 percent in December, down from 0.2 percent the previous month, in line with analysts’ expectations, according to data released by the National Bureau of Statistics on Thursday. This marks a continued trend of low inflation, reflecting subdued price increases across various sectors in the economy.
Food prices saw a year-on-year decline of 0.5 percent, contributing to the overall low inflation rate, while non-food prices experienced a modest increase of 0.2 percent. On a month-on-month basis, China’s consumer price index remained unchanged in December, compared to a 0.6 percent decline in November. This flat performance suggests a stabilization of consumer prices after the previous month’s drop.
Food prices dropped by 0.6 percent from November to December, largely due to favorable weather conditions that supported agricultural production. The lower food prices helped ease inflationary pressures in the consumer market, as food costs typically have a significant impact on overall price levels.
In addition to consumer prices, wholesale prices continued their downward trajectory, marking the 27th consecutive month of decline. China’s producer price inflation fell by 2.3 percent year-on-year in December, further highlighting deflationary pressures in the manufacturing sector. For the full year of 2024, consumer prices were 0.2 percent higher than in 2023, indicating minimal inflationary growth over the year.
MENAFN12012025000045015839ID1109080329
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.