China’s NBS: November inflation data influenced by higher temperatures and a decline in travel demand
China's National Bureau of Statistics (NBS) published a statement following the country’s inflation data.
Key takeaways
In November, policy measures boosted industrial demand, reversing the PPI's month-on-month decline and narrowing its year-on-year drop.
China's November CPI year-on-year increase hits a five-month low, PPI year-on-year decline smallest in three months.
In November, core CPI, excluding food and energy prices, continued to rise, with a 0.3% year-on-year increase, up by 0.1 percentage points from the previous month.
In November, influenced by higher temperatures and a decline in travel demand, the national CPI decreased month-on-month but saw a slight year-on-year increase.
Market reaction
AUD/USD is consolidating its renewed upside near 0.6400, little affected by Chinese inflation data. The pair is up 0.19% on the day, as of writing.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
