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Caixin

China reports first consumer deflation in 11 years

Drop in food prices pulls down reading but core CPI remains stable

A clerk puts together an order that came in via an app at JD's 7Fresh supermarket in Beijing, China, on November 11, China's Singles Day.   © Reuters

China saw deflation in consumer prices for the first time in more than 11 years in November due to a drop in food prices, official data showed Wednesday.

The consumer price index, which measures changes in prices of a basket of consumer goods and services, fell 0.5% year-on-year in November, marking the first decline since October 2009, according to data from the National Bureau of Statistics, or NBS. In October this year, the CPI rose 0.5% year-on-year.

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