Financial News
Written by: Zhang Weilun
2021-01-21 16:53
Last update date: 2021-01-21 16:53
The government announced the Consumer Price Index in December last year. Compared with December 2019, overall consumer prices fell by 0.7% year-on-year, which is larger than the 0.2% year-on-year drop in November last year. This is related to the government's provision of higher electricity subsidies during the period.
Excluding the effects of all one-off relief measures, the Composite Consumer Price Index in December last year changed to "zero" year-on-year, and the adjustment rate was lower than the 0.3% increase in November last year. The decline in corporate rents expanded.
A government spokesman stated that the basic consumer price inflation rate eased to near zero in December last year.
Affected by the fourth wave of the local epidemic and the resulting social distancing measures, the price of dining out was significantly softer during the month.
At the same time, the year-on-year decline in private housing rents has slightly expanded, while the price pressure on many other major components of the consumer price index has further subsided.
In total for the whole year of last year, the basic consumer price inflation rate averaged 1.3%.
Looking ahead, under the continuing threat of COVID-19, global and local economic conditions are still full of challenges, and the overall price pressure should remain very slight in the short term.
The government will continue to monitor the situation closely.
Inflation
