BUSINESS China's CPI up 1.5% in December


China's CPI up 1.5% in December

China Daily

09:34, January 12, 2022

A customer buys vegetables at a supermarket in Handan, North China's Hebei province. [Photo/Xinhua]

BEIJING, Jan. 12 (Xinhua) -- China's consumer price index (CPI), a main gauge of inflation, rose 1.5 percent year on year in December, down from the 2.3-percent increase a month ago, the National Bureau of Statistics said Wednesday.

The CPI in 2021 climbed 0.9 percent, well below the country's annual target of approximately 3 percent. Consumer prices rose 2.5 percent and 2.9 percent in 2020 and 2019, respectively.

Breaking down the inflation data in December, food prices dropped 1.2 percent from a year ago, reversing the 1.6-percent rise in November. The price of pork, a staple meat in China, slumped 36.7 percent, 4 percentage points greater than a month ago, while the prices of other farm produce from vegetables to fish and eggs registered smaller increases.

Non-food prices rose 2.1 percent from a year earlier, eased from the 2.5 percent in November.

The core CPI, which excludes food and energy prices, gained 1.2 percent year on year, flat with a month ago.

Wednesday's data also showed the country's producer price index, which measures costs for goods at the factory gate, went up 10.3 percent year on year in December.

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