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China consumer prices rise 1.4% in Nov, slowest in 5 years
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CHINA'S inflation growth moderated further in November, data from the National Bureau of Statistics showed today.
The Consumer Price Index, the main gauge of inflation, expanded 1.4 percent from a year earlier last month, the slowest in more than five years and down from the pace of 1.6 percent in October.
The Producer Price Index, the factory-gate measurement of inflation, dropped 2.7 percent last month, down further from the fall of 2.2 percent in the prior month.
Zhou Hao, an economist at Australia & New Zealand Banking Group Ltd, said China has entered into a rapid dis-inflation process with rising deflation risk.
The PPI inflation has remained negative for 33 consecutive months, and the CPI inflation dropped to the lowest level since the global financial crisis.
"While soft inflation profile points to more aggressive policy easing, Chinese central bank has remained hesitant in cutting reserve requirement ratio," Zhou said. "But as the previous efforts are proved not so effective, we believe an RRR (reserve requirement ratio) cut is at the corner to regain policy effectiveness and the credibility."
In the first 11 months, China's CPI rose 2 percent year on year, far below the target limit of 3.5 percent for the whole year.
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