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China's CPI up 2 pct, PPI up 1.6 pct in 2016
   2017-01-10 10:29:24    Xinhua/CRIENGLISH.com      Web Editor: Fei Fei

The CPI in December increased 2.1 percent year-on-year, down from November's 2.3-percent rise. The reason behind the slight drop is a slower growth of vegetable prices, down 13.2 percentage points.[Photo: Xinhua]

China's consumer prices grew 2 percent year on year in 2016, up from 1.4 percent in 2015 but well below the government's 3-percent annual target, the National Bureau of Statistics said on Tuesday.

The consumer price index, the main gauge of inflation, is predicted to continue a mild growth in 2017 by experts.

At the same time, the producer price index (PPI), which measures costs for goods at the factory gate, reached a five-year high in December, official data showed Tuesday.

The reading rose 5.5 percent year on year, the highest reading since September 2011, according to the National Bureau of Statistics (NBS).

On a month-to-month basis, it increased 1.6 percent.

PPI for the whole of 2016 dropped 1.4 percent year on year. The pace of decline was 3.8 percentage points narrower compared to that of 2015.

Factors including exchange rate volatility and rising prices of coal and steel as market demand grew steadily have led to continuous rises in PPI, analysts said.

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