China consumer prices pick up but factory deflation gets worse

China’s consumer prices growth accelerated to the fastest in over a year even as deflationary pressures were widespread in the world’s second-biggest economy.

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The consumer price index (CPI) climbed to 0.7 per cent in November from a year earlier, after a 0.2 per cent rise in October, according to data released by the National Bureau of Statistics (NBS) on Dec 10. That matched the median forecast of economists surveyed by Bloomberg.

Factory deflation unexpectedly worsened as it extended into a 38th month, with producer prices falling 2.2 per cent. China’s core CPI, which excludes volatile items such as food and energy, was unchanged at 1.2 per cent.