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China’s Record-High Inflation Falls Slightly to 12.9% November

December 9, 2021 by Forex Winner Leave a Comment

China’s Record-High Inflation Falls Slightly to 12.9% November

Source: National Bureau of Statistics of China

China’s factory-gate inflation eased slightly in November, after a government crackdown on surging commodity prices and an easing power shortage. CSI 300 up +1.66%, CNY USD down -0.27%

  • The producer price index surged 12.9% in November, slower than October’s record-high of 13.5% but faster than the analysts’ estimate of 12.4%.
  • Even though factory inflation remains extremely high, moderating prices might give policymakers an opportunity to inject more stimulus to fix wobbling growth.  
  • China’s economy has lost some steam in recent months as it struggles with rising prices, a slowing manufacturing sector, debt crisis in the property market, and regular COVID-19 outbreaks.
  • Julian Evans-Pritchard, senior China economist at Capital Economics stated that prices pressures are generally easing, more so in heavy industry.
  • Factory-gate inflation has surged since May this year due to rising commodity prices, increasing pressures on retail businesses to pass their costs to consumers.
  • China faces various problems heading into 2022, including the collapse of its property sector.

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