China’s consumer inflation rebounded in November after vegetable prices jumped due to unusually frigid winter. Prices rose 1.5 percent over a year earlier, accelerating from October’s 1.3 percent, data showed yesterday. That was driven by a 9.4 percent rise in prices of fresh vegetables. Consumer inflation had been drifting down after hitting 2 percent in August. Relatively low inflation has given Chinese leaders room to cut interest rates six times since last November to stimulate the slowing economy. “Today’s inflation data support our view that domestic price pressures are on the rise,” said Julian Evans-Pritchard of Capital Economics in a report. “Looking ahead, we expect inflation to rise going into 2016.” Also in November, wholesale prices measured as goods left the factory fell for a 44th straight month, declining by 5.9 percent from a year earlier. Inflation in non-food consumer prices edged up to 1.1 percent from October’s 0.9 percent.
Imports, exports contract again in November
China’s imports and exports shrank again in November but there were signs a decline in domestic demand might be turning around. Customs data Tuesday showed exports contracted by 6.8 percent, accelerating from October’s 3.6 percent. Imports declined 8.7 percent, an improvement over the previous month’s 16 percent fall. A fall in global commodity prices has dragged down China’s import figures but the volume of some goods has risen. In November, the volume of crude oil imports rose 8.7 percent over the previous year.
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