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In November 2024, China's Consumer Price Index (CPI) increased by 0.2% compared to the same month last year. This is a drop from a 0.3% increase in October and is lower than what economists expected, which was a 0.4% rise. This situation shows that consumer demand is still weak despite efforts from the government to boost the economy.
Additionally, the Producer Price Index (PPI) indicates ongoing price drops in factory goods. It fell by 2.5% compared to last year, which is better than the 2.9% drop in October. This marks the 26th month in which producer prices have fallen, showing ongoing problems in manufacturing and the economy as a whole.
