中國製造業通縮壓力加劇

Deflationary pressures at China's manufacturers have reached their strongest in a year-and-a-half.

中國製造業通貨緊縮壓力達到兩年半來的最高點。

As key commodity prices continue to drop, China's producer price index tumbled to a year-over-year pace of -2.7 per cent pace last month.

在一些關鍵的大宗商品價格繼續下跌之際，上個月中國的生產者價格指數(PPI)大幅下跌，同比跌幅爲2.7%。

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PPI has now been caught in deflation for 33 months. The -2.7 per cent print is half a point lower than October, as a slowing economy and a turning housing market weakens demand for industrial goods.

這使得中國的PPI已連續33個月處於通縮狀態。由於經濟放緩以及樓市的逆轉降低了對工業品的需求，上個月2.7%的跌幅比10月份還擴大了0.5個百分點。

Forecasters were looking for deflation of -2.4 per cent.

分析師曾預期PPI同比下跌2.4%。

Moody's Analytics said before the figures hit:“Producer prices continue to fall, because of the oversupply of many industrial goods. The slowdown in housing is causing excess supplies of steel, cement and other sectors. Ample supply of global commodities such as iron ore and crude oil are also pushing input costs down.”

在該數據公佈之前，穆迪分析(Moody's Analytics)曾表示：“由於許多工業品供過於求，生產者價格繼續下滑。樓市增長放緩正在導致鋼鐵、混凝土及其他產業的過度供給。此外，鐵礦石和原油等全球大宗商品的充足貨源，也壓低了輸入成本。”

Meantime, inflation for consumers remains benign. CPI slowed to 1.4 per cent year over year - the slowest since November 2009. The CPI index was as high as 2.5 per cent earlier in the year but prices have subdued as the property market cools.

與此同時，消費品通脹依然保持溫和狀態。消費品價格指數(CPI)同比增長率放緩至1.4%，這是2009年11月以來的最低通脹率。今年早些時候，中國CPI通脹率曾高達2.5%。不過，隨着樓市降溫，物價也已受到抑制。