Guangzhou (JLC), January 15, 2024 – China's consumer price index (CPI), a main gauge of inflation, edged up 0.2% in 2023, compared with a 2.0% year-on-year growth recorded in 2022, data from the National Bureau of Statistics (NBS) showed on January 12.
This indicated that consumer goods prices were largely stable in 2023, state news agency Xinhua said. The CPI is expected to rise mildly in 2024, it said.
December CPI up MoM, but down YoY
The CPI inched up 0.1% month on month in December, largely driven up by food prices, the NBS said.
On a year-on-year comparison, however, the CPI dropped 0.3% in December.
Annual PPI down 3.0%
Meanwhile, China's producer price index (PPI), which measures factory-gate goods prices, dropped 3.0% on a year-on-year basis in 2023, the NBS data indicated.
The PPI fell 0.3% month on month in December, the NBS data showed.
On a year-on-year comparison, the PPI dropped 2.7% in December.
