Guangdong’s inflation data shows prices are starting to ease their recent sharp rises. The month-on-month CPI growth rate narrowed in November, 0.8 percentage points lower than the previous month (1.0%).
Worries persist around pork prices, which rose 5.4%, albeit at a slightly slower rate. It helped that egg and seafood prices continued to fall, 0.5% and 0.4%, respectively, while fruits and vegetables were down 4.6% and 3.0%, respectively.
Service prices also fell slightly, down 0.5% in November, 0.8 percentage points lower than the previous month. Hotel accommodation prices fell by 6.7%, coach prices by 4.5%, travel agency fees by 4.3% and air fares by 2.8%.
Industrial prices were flat in November, with some prices slightly volatile. Liquefied petroleum gas (LPG) prices rose 1.4% due to price adjustments by some gas companies. Affected by the adjustment of domestic fuel prices, gasoline prices rose 0.1% and diesel prices rose 0.2%. Clothing prices rose 0.6% as a result of the winter launch. Affected by the international gold price adjustment, platinum jewelry prices rose 0.7% and gold jewelry prices fell 3.0%. The price of household appliances fell by 1.1% as a result of the adjustment of promotional policies.
Producer prices (PPI), meanwhile, were flat, on a month-on-month basis. Among the index of 38 PPI industries measured in November, 10 rose, 20 reduced, and eight were flat. In terms of year-on-year growth, the PPI survey of 38 industry groups showed 20 rose while 18 reduced.
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