The China's Consumer Price Index (CPI) decreased by 0.3 percent in December, according to data released by the National Bureau of Statistics of China. This marks the second consecutive month that the CPI has shown a decline, following a 0.5 percent drop in November.
The decrease in the CPI in December was mainly driven by a drop in food prices, particularly pork prices, which fell by 7 percent yearonyear. This was due to the recovery of the pig industry following a severe outbreak of African swine fever in previous years, as well as government policies to support the industry.
The CPI excluding food and energy prices, known as the producer price index (PPI), also fell by 0.5% in December, which is a sign of weakness in the manufacturing sector.
Overall, the decrease in the CIP and PPI in December indicates that inflation remains low in China, which may be beneficial for the country's central bank in terms of keeping interest rates low and supporting economic growth. However, it also means that the government may need to focus on supporting the agricultural and manufacturing sectors to ensure that prices do not fall too much and harm the economy.
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