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China’s November PPI falls, CPI slows amid weak activity By Reuters

© Reuters. FILE PHOTO: People walk along Nanjing Pedestrian Road, a main shopping area, in Shanghai, China May 5, 2021. REUTERS/Aly Song/File Photo

BEIJING (Reuters) – China’s factory gate prices showed an annual fall for a second month in November, amid soft domestic demand and sliding commodity prices, and consumer inflation slowed, indicating weak economic activity in November.

The producer price index (PPI) was down 1.3% on a year earlier, unchanged from an annual contraction seen in October, according to National Bureau of Statistics (NBS) data issued on Friday. That is slower than a 1.4% fall tipped in a Reuters poll.

The November consumer price index (CPI) climbed 1.6% from a year earlier, slowing from the 2.1% annual rise seen in October and in line with a Reuters poll.

A surge of COVID-19 cases to historic highs, a property sector slumping under huge debts and downbeat consumer sentiment have dragged on China’s economy, the world’s second-largest.

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