In November 2020, the national Consumer Price Index (CPI) dropped by 0.5% year on year. Among them, the urban and rural areas fell by 0.4% and 0.8%; the prices of food and non-food stuff went down by 2.0% and 0.1% respectively, and the prices of consumer goods declined by 1.0%, while that of services increased by 0.3%. Excluding food and energy prices, the core CPI rose by 0.5% from a week earlier. From January to November, the national consumer price rose by 2.7% over the same period last year.

In November, national consumer prices dropped by 0.6% month on month. Among them, the prices in urban and rural both went down by 0.6%; the prices of foodstuff and non-foodstuff decreased by 2.4% and 0.1%; and that of consumer goods and services fell by 0.8% and 0.4%.

(Sources: China’s National Bureau of Statistics)

Fig.: Variation in Consumer Price Index in China (Nov 2019-Nov 2020)