# China falls deeper into deflation territory, hitting markets; IMF warns of risk of cold war II – as it happened | Business | The Guardian

> China's CPI fell 0.5% month-on-month and 0.5% year-on-year in November, the steepest annual drop since November 2020, according to the National Bureau of Statistics. The data disappointed investors and pointed to rising deflationary pressure from subdued domestic demand.

- Date: 2023-12-11 · published 2023-12-11T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/6456-china-falls-deeper-into-deflation-territory-hitting-markets-imf-warns-of-risk
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Persistent deflation and weak domestic demand in China point to softer import appetite for feed grains and meal, which weighs on global feed prices.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-10-22 | [China's yuan eases after regulator warn of possible actions to counter higher fluctuations - Markets - Business Recorder](https://feedsoft.ai/events/44778-china-s-yuan-eases-after-regulator-warn-of-possible-actions-to-counter-higher.md) | -0.0% | -0.1% |
| USDCNY | 2017-02-26 | [China's yuan falls, but fears of US trade war may cap depreciation - The Business Times](https://feedsoft.ai/events/72719-china-s-yuan-falls-but-fears-of-us-trade-war-may-cap-depreciation-the-business.md) | +0.5% | +0.2% |
| USDCNY | 2022-06-13 | [China’s yuan slips to 2-week low as dollar jumps on inflation data - Markets - Business Recorder](https://feedsoft.ai/events/41171-china-s-yuan-slips-to-2-week-low-as-dollar-jumps-on-inflation-data-markets.md) | +0.1% | +0.2% |
| USDCNY | 2023-12-11 | [China’s yuan weakens to 3-week low, hurt by deflation signs - Markets - Business Recorder](https://feedsoft.ai/events/6455-china-s-yuan-weakens-to-3-week-low-hurt-by-deflation-signs-markets-business.md) | -0.7% | +0.0% |
| USDCNY | 2021-07-28 | [Havens favoured as China jitters persist; dollar waits for Fed - Markets - Business Recorder](https://feedsoft.ai/events/45976-havens-favoured-as-china-jitters-persist-dollar-waits-for-fed-markets-business.md) | -0.6% | -0.6% |

## Sources

- theguardian.com: https://www.theguardian.com/business/live/2023/dec/11/china-deflation-territory-markets-fall-uk-house-prices-drop-business-live

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.