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China demonstrates the slowest factory inflation for 13 months
In December 2017, China's producer prices tacked on at their slowest pace for 13 months because the government's strict measures against winter smog affected factory demand for raw materials, hinting that the world's number two economy has started slowing.
The producer price index inched up 4.9% in December from 2017, which is the slowest surge since November 2016, as the National Bureau of Statistics informed on Wednesday. It was a bit faster than the 4.8% in a Reuters survey of experts, although much weaker than the 5.8% tempo observed in November.
Additionally, the data disclosed that consumer inflation accelerated less than anticipated and remained within the key bank's comfort zone.
In 2018 a government crackdown on smog in the industrialized northern areas has affected demand for raw materials, while everlasting curbs on the housing market have put pressure on property investment.
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