According to data released by the National Bureau of Statistics on December 10th, household consumption continued to recover in November. The national Consumer Price Index (CPI) slightly decreased by 0.1% year-on-year, but increased by 0.7% year-on-year, expanding by 0.5 percentage points from the previous month and reaching its highest level since March 2024. The core CPI, which excludes food and energy prices, increased by 1.2% year-on-year, maintaining a growth rate of over 1% for three consecutive months. Statistics show that food prices increased by 0.2% year-on-year, while non food prices increased by 0.8%; Consumer goods prices increased by 0.6%, and service prices increased by 0.7%. On average from January to November, CPI remained the same as the same period last year. The year-on-year increase in CPI is mainly driven by the shift in food prices from a decrease to an increase. Food prices have shifted from a decrease of 2.9% last month to an increase of 0.2%, and the impact on CPI year-on-year has shifted from a decrease of 0.54 percentage points last month to an increase of 0.04 percentage points. ”Dong Lijuan, Chief Statistician of the Urban Department of the National Bureau of Statistics, said. Specifically, in the food sector, the price of fresh vegetables has increased by 14.5% from a decrease of 7.3% last month, marking the first increase after 9 consecutive months of decline. The year-on-year impact on CPI has increased by approximately 0.49 percentage points compared to the previous month; The price of fresh fruits has changed from a 2.0% decrease last month to a 0.7% increase; Beef and lamb prices have risen by 6.2% and 3.7% respectively, with both increases expanding; The prices of pork and poultry meat decreased by 15.0% and 0.6% respectively, with the decline narrowing. Dong Lijuan stated that the CPI decreased by 0.1% month on month, mainly due to the seasonal decline in service prices. The service price decreased by 0.4%, resulting in a month on month decrease of approximately 0.16 percentage points in CPI. (New Society)