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  • China’s inflation outturn was a mixed bag, with CPI
    rising but PPI reflation seeming to lose momentum.
  • A closer look reveals the CPI jump was due to transient
    factors, while PPI was dragged down by base effects.
  • Weak domestic demand persisted in November, with all
    eyes on the CEWC for hints on future policy direction.

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Keywords for: 11 December 2025 China+ Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence