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Month-on-month inflation expands at a slower pace in December

Inflation data released by the National Bureau of Statistics this morning showed that consumer prices rose by 0.85% MoM in December, marking the slowest MoM change in nine months. The lower than expected MoM number largely mirrored a second consecutive...

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Inflation data released by the National Bureau of Statistics this morning showed that consumer prices rose by 0.85% MoM in December, marking the slowest MoM change in nine months. The lower than expected MoM number largely mirrored a second consecutive slowdown in food inflation by 29bps to 0.97% MoM (due to the fading impact of the border closure), which more than offset the increase in the core basket.

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