BEIJING — China’s factory-gate prices moderated in November, thanks to government interventions to dent price increases in coal, metals and other raw materials, official data showed Thursday.
The producer price index rose 12.9% from a year earlier in November, down from a 13.5% increase in October, which was the fastest pace in 26 years, according to the National Bureau of Statistics.
The November increase was still higher than the 12% rise forecast in poll of economists by The Wall Street Journal.
China’s PPI was unchanged compared with October. In the first 11 months of 2021, the PPI increased 7.9% from the same period a year earlier.
Meanwhile, China’s consumer price index rose 2.3% from a year earlier in November, up from October’s 1.5% rise, but lower than the consensus expectation of 2.6%.
The higher consumer inflation was mainly driven by food prices which rose 1.6% from a year earlier in November after a 2.4% fall in October.