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| China inflation eases to five-year low | China inflation eases to five-year low |
| (about 3 hours later) | |
| Inflation in China eased to a five-year low in November, suggesting continued weakness in the Asian economic giant. | |
| The inflation rate fell to 1.4% in November from 1.6% in October, which is the lowest since November 2009. | |
| The reading was also below market expectations of a 1.6% rise. | The reading was also below market expectations of a 1.6% rise. |
| Producer prices, which have been entrenched in deflation, also fell more than forecast, down 2.7% from a year ago - marking a 33rd consecutive monthly decline. | Producer prices, which have been entrenched in deflation, also fell more than forecast, down 2.7% from a year ago - marking a 33rd consecutive monthly decline. |
| Economists had predicted a fall of 2.4% after drop of 2.2% in the previous month as a cooling property market led to slowing demand for industrial goods. | Economists had predicted a fall of 2.4% after drop of 2.2% in the previous month as a cooling property market led to slowing demand for industrial goods. |
| More slowdown evidence | More slowdown evidence |
| The figures are the latest in a string of government data that showed a deeper-than-expected slowdown in the Chinese economy. | The figures are the latest in a string of government data that showed a deeper-than-expected slowdown in the Chinese economy. |
| Dariusz Kowalczyk, an economist at Credit Agricole, said the data partly reflected low commodity and food prices but also confirmed softness in domestic demand. | |
| "It will likely convince policymakers to ease their policy stance further and we continue to expect a RRR (bank reserve requirement ratio) cut in the near term, most likely this month," he told Reuters. | "It will likely convince policymakers to ease their policy stance further and we continue to expect a RRR (bank reserve requirement ratio) cut in the near term, most likely this month," he told Reuters. |
| Last month, the country's central bank unexpectedly cut interest rates for the first time in more than two years to spur activity. | |
| In reaction to the data, Chinese shares continued their downward trend after the Shanghai Composite fell more than 5% on Tuesday. | |
| The benchmark was down 1.5%, while Hong Kong's Hang Seng index fell 0.5%. | The benchmark was down 1.5%, while Hong Kong's Hang Seng index fell 0.5%. |