China’s client costs are falling for the primary time since 2009
People wearing face masks move packages of vegetables in an agricultural produce wholesale market as the country is hit by a novel coronavirus outbreak on February 19, 2020 in Beijing, China.
Tingshu Wang | Reuters
BEIJING – China’s consumer price index fell for the first time in about a decade in November as food prices fell.
The consumer price index, a measure of inflation that indicates the prices of a basket of consumer goods and services, fell 0.5% in November year-over-year, the Chinese Bureau of Statistics said on Wednesday.
According to the wind information database, the decrease was the first decrease since October 2009.
China CPI from 2005 to 2020
Food prices fell 2% as pork prices fell 12.5% year over year in November.
The fall in prices for Chinese meat staples follows an increase last year due to a pork shortage following an African swine fever outbreak.
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