China’s CPI Fell For The First Time Since 2009

China’s CPI fell in November for the first time in nearly a decade as food prices fell.

The Chinese National Statistics Office said the Consumer Price Index, a gauge of inflation that measures the prices of a basket of consumer goods and services, fell 0.5% in November compared to a year ago.

This marked the first decline since October 2009, according to the Wind Information database.

Food prices decreased by 2% as pork prices decreased by 12.5% in November compared to last year.