China’s consumer price index (CPI), which is used to measure inflation, jumped 2 per cent year-on-year (YoY) in 2022. In December, CPI on a monthly basis remained flat in December, while it surged 1.8 per cent YoY—higher than 1.6 per cent in November, as per the National Bureau of Statistics (NBS).
“Prices were generally stable in December thanks to China’s efforts to better coordinate epidemic response and economic and social development, and the country’s adoption of measures to ensure market supply and stabilise prices,” Dong Lijuan, chief statistician with the NBS, was quoted as saying by local media reports.
Since November, due to lower international oil prices, prices of diesel and domestic gasoline went down by 6.5 per cent and 6.1 per cent, respectively. Prices of non-food items fell by 0.2 per cent month-on-month (MoM) in December.
China's CPI, which is used to measure inflation, jumped 2 per cent YoY in 2022. In December, CPI on a monthly basis remained flat in December, while it surged 1.8 per cent YoY—higher than 1.6 per cent in November, as per the NBS. China's producer price index, which gauges goods' prices at the factory gate, dropped 0.7 per cent YoY in December.
China’s producer price index, which gauges goods’ prices at the factory gate, dropped 0.7 per cent YoY in December, recent data revealed.
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