Consumer inflation accelerates in Dec; PPI falls with soft demand: China
1/12/2023
Economists expect inflation to continue to pick up in the first quarter of 2023.
The consumer price index (CPI) in December was 1.8% higher than a year earlier, rising faster than the 1.6% annual gain seen in November, data from the National Bureau of Statistics (NBS) showed on Thursday.
The result matched a Reuters poll estimate of 1.8%.
China abandoned its strict zero-COVID measures last month, lifting lockdowns, removing quarantine and halting regular testing. As a result, economists expect inflation to continue to accelerate in the first quarter.
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