China's factory inflation slowed in November, a sign demand remains weak amid Beijing's ongoing trade war with the United States, while consumer inflation also flagged, official data showed Sunday.

The producer price index -- an important barometer of the industrial sector that measures the cost of goods at the factory gate -- climbed 2.7% on-year in November.

It ticked down from 3.3% the previous month, recording its weakest growth since October 2016, while remaining in line with the forecast in a Bloomberg News survey.

A slowdown in factory gate inflation reflects sluggish demand.

The consumer price index (CPI) -- a key measure of retail inflation -- rose 2.2% on-year, compared with 2.5% in October.

Food prices, up 2.5%, rose quicker than non-food prices, which were up 2.1%. Energy prices fell over the month.

"The broad moderation in inflationary pressures appears to be a reflection of weaker demand growth over the past half a year and should alleviate concerns about possible stagflation," said Goldman Sachs Economic Research in a report.

The weak figures come as China's trade war with the US continues to bite and its economy shows signs of slowing. The Asian giant recorded GDP growth of 6.5% in the third quarter -- its weakest in nine years.

The growth of China's trade with the rest of the world slowed last month, with exports up 5.4% and imports up 3% on-year -- compared with 15.6% and 21.4% respectively in October.

Washington and Beijing announced a tariff truce at the start of December, to allow for trade negotiations by delaying a hike in new duties by 90 days.

The US suspended its plans to raise tariffs on $200 billion in Chinese imports to 25 percent beginning January 1, leaving them at the current 10 percent rate.

China-US trade surplus hits record in November: China data
Beijing (AFP) Dec 8, 2018 - China's trade surplus with the US ballooned in November to a record $35.6 billion as exports rose and imports shrank, official figures showed Saturday.

Exports to the US rose 9.8 percent for November on-year, while imports for the month fell 25 percent on-year, the data from China's customs administration showed.

The record monthly surplus exceeds the $31.8 billion recorded in October and comes despite a raft of US tariffs on Chinese goods.

China's trade surplus with the US for the first 11 months of the year stood at $293.5 billion, up from $251.3 billion during the same period last year.

Related Links
Global Trade News

Tweet

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

IMF's Lagarde urges US, others to reject 'dystopian' path
Washington (AFP) Dec 5, 2018
Countries that go it alone and fail to adapt to new economic realities could face a "dystopian" future where an angry majority is left behind, IMF chief Christine Lagarde warned Tuesday. She urged world leaders to remember the lesson of the global recession that followed the 2008 financial crisis: "International cooperation is essential, not optional." The managing director of the Washington-based global crisis lender issued yet another plea to governments, notably the United States, to back awa ... read more