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China’s Inflation Rate Drops to 5-Year Low
China's consumer price index, which grew 1.6% in October, rose only 1.4% last month.
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China's consumer price index, which grew 1.6% in October, rose only 1.4% last month. It was the smallest rise since November 2009.
Government statistics also show that producer prices deflated for the 33rd consecutive month in November. They shrank 2.7% year on year, deepening a 2.2% contraction in October.
Economists consider the figures more evidence that China's economic growth rate is cooling more significantly than expected. They predict the central government will attempt to spur growth by further ease bank lending requirements and perhaps lowering interest rates again.
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