China's consumer prices fall the most in three years

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Asia Pacific

China's consumer prices fall the most in three years

The dollar has strengthened against Asian currencies driven by expectations for US inflation data this week as well as readings showing China's worsening deflation. China's consumer price index fell 0.5 percent year-on-year in November more than an expected 0.1 percent drop - seeing its fastest slide since November 2020. The producer price index also fell 3 percent year-on-year marking the 14th straight month of PPI decline. The data moved China's stock markets with the CSI index recovering 0.59 percent after falling more than 1 percent while Hong Kong's Hang Seng index fell by 1.08 percent.