CHINA ECONOMY

China's consumer price index declines

epa11070683 A man sells food at a street market in Shanghai, China, 11 January 2024 (issued 12 January 2024). According to China's Bureau of Statistics, the country's consumer prices experienced a decline of 0.3 percent year-over-year in December 2023, marking the third consecutive month, and the longest drop since October 2009. Food prices declined the least since September, dropping 3.7 percent compared to 4.2 in November, as pork prices fell at a softer rate. Conversely, non-food inflation edged higher, rising to 0.5 percent from 0.4. This increase is attributed to a continued rise in cost for clothing, housing, health, and education, while the decline in transport prices eased slightly. Core consumer prices, which exclude food and energy prices, remained unchanged at 0.6 percent year-over-year in December, the same as the previous two months. Consumer prices for the full year rose by 0.2 percent. In terms of monthly figures, the CPI inched up by 0.1 percent, indicating the first rise in three months. EPA/ALEX PLAVEVSKI

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