According to data released by the National Bureau of Statistics on December 9, China's consumer price index (CPI) in November became negative after 11 years, the last time it was negative was in October 2009. In November 2020, the national consumer price index (CPI) dropped by 0.5 percent year on year. Among them, the urban and rural areas fell by 0.4 percent and 0.8 percent; the prices of food and non-food stuff went down by 2.0 percent and 0.1 percent respectively; and the prices of consumer goods declined by 1.0 percent, while that of services increased by 0.3 percent. In November, national consumer prices fell by 0.6% percent month-on-month. Among them, the prices in urban and rural both went down by 0.6 percent; the prices of foodstuff and non-foodstuff decreased by 2.4 percent and 0.1 percent; and that of consumer goods and services fell by 0.8 percent and 0.4 percent. From a year-on-year perspective, the decline in CPI was obviously affected by the relatively high comparison base in the same period last year. Among them, food prices changed from a 2.2 percent increase in the previous month to a decrease of 2.0 percent, affecting nearly 0.44 percentage point decrease in the CPI, and driving CPI from rising to falling. Among the foodstuff, the price of pork fell by 12.5 percent year on year, the pace of decline expanded 9.7 percentage points, contributing 0.60 percentage points to the year-on-year decline in CPI, which is the key to turning the CPI negative. The data also showed that core CPI, which excludes food and energy prices, remained stable, rising 0.5 percent year on year, the same pace for the fifth month in a row. In addition, in November 2020, producer prices across the country dropped 1.5 percent year on year and rose 0.5 percent month on month. The purchase price of industrial producers fell by 1.6 percent year on year and rose by 0.7 percent month on month. On average, producer prices from January to November fell by 2.0 percent from the same period last year, and the purchasing prices for industrial producers fell by 2.5 percent.