Curriencies

China’s consumer prices drop for the first time since 2009


People wearing face masks move packs of vegetables at a wholesale market for agricultural products, as the country is hit by an outbreak of the novel coronavirus, in Beijing, China February 19, 2020.Tingshu Wang | ReutersBEIJING — China’s consumer price index fell in November for the first time in about a decade as food prices dropped.The consumer price index, a measure of inflation that tracks prices for a basket of consumer goods and services, fell 0.5% in November from a year ago, China’s National Bureau of Statistics said Wednesday.The decline marked the first drop since October 2009, according to the Wind Information database.China CPI from 2005 to 2020Food prices fell 2% as pork prices declined 12.5% in November from a year ago.The drop in prices for the Chinese meat staple follows a surge in the last year due to a shortage of pork as a result of an African swine fever outbreak.This is a breaking news story. Please check back for updates.

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