(Yicai Global) Jan. 10 -- China's Consumer Price Index rose by 2.1 percent last year, 0.5 percentage point higher than 2017 and representing a five-year high. Growth in the country's CPI and Producer Price Index eased in December, according to a statement from the National Bureau of Statistics.
China's CPI rose 1.9 percent annually last month with food prices rising 2.5 percent and non-food prices increasing 1.7 percent. Consumer prices rose 1.7 percent and service prices were up 2.1 percent.
On a monthly basis, the CPI is on the same level with November when it was down 0.3 percentage point, said Sheng Guoqing, senior statistician at the urban division of the National Bureau of Statistics. The reading was affected by the price adjustments in refined oil products, gasoline and diesel prices which fell by between 10.1 percent and 10.8 percent.
China's PPI in December rose 0.9 percent annually, though the growth rate fell 1.8 percentage point from the year-ago period. Production means prices rose by 1.0 percent while prices of means of livelihood rose 0.7 percent. The growth rate of prices in oil, natural gas, chemical raw material and chemical products all fell.
The PPI was down 1 percent monthly, with the contraction 0.8 percentage points wider than November.
Editor: William Clegg