• China's inflation rose more than expected. AUD/USD traded higher

Market news

9 December 2016

China's inflation rose more than expected. AUD/USD traded higher

China's factory gate inflation increased to a more than five-year high in November on higher commodity prices and consumer price inflation exceeded expectations due to rising food costs.

Producer price inflation accelerated notably to 3.3 percent in November from 1.2 percent in the previous month, the National Bureau of Statistics showed Friday. Inflation was expected to rise to 2.3 percent.

Consumer price inflation rose to 2.3 percent in November from 2.1 percent in October. A similar high rate was last seen in April. The pace also exceeded the expected 2.2 percent.

Nonetheless, the figure continues to remain below the government's full-year target of 3 percent, says rttnews.

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