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.