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In this article: China's National Bureau of Statistics reported slower-than-expected consumer price growth for the first 11 months, up 0.2 percent from a year earlier.

Analysts polled by Reuters had forecast prices would rise 0.3 percent in March, slightly higher than a year ago, instead of the 0.5 percent increase seen in March. Manufacturing prices fell for the 26th consecutive month, but the 2.5 percent drop in 11 months was less than the 2.8 percent forecast.
According to the National Bureau of Statistics, China's 11-month consumer inflation slowed from forecasts and #rose just 0.2% from a year earlier. Analysts polled by Reuters had expected prices to rise 10% in 11 months, rather than 0.3% in the 0.5-month period.
China's producer price index has fallen for 26 consecutive months. The 2.5% drop in 11 months was less than the 2.8% drop predicted by Reuters analysts. The decline in industrial goods prices was also small compared with the same period last year. #Core inflation, excluding volatile fuel and food prices, rose 0.3% over 11 months, compared with a monthly rate of 0.2%.
pork and fresh vegetable prices rose 13.7% and 10%, respectively. Ferrous metal prices fell 7.1% and the consumer price index of industrial producers declined. Prices of chemical raw materials fell 5%, while fuel and electricity fell 6.5%.
Erica Tay, director of macroeconomic research at Maybank, said that China's consumer price index deflation, although slightly declining, is still quite persistent.
She told CNBC that the accumulated inventories of manufacturers and finished goods were large and rising month after month.
The steady retail inflation near zero indicates that China's economy is suffering from weak domestic demand as wholesale prices remain at deflationary levels, the National Bureau of Statistics (NBS) said in a report. Domestic demand remained sluggish after 9 p. m.

Fitch Ratings downgraded China's GDP growth forecast for 2025 from 4.5% to 4.3% to 12.
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As of December 24, bitcoin's 2024 return was 113%, but the stock prices of most miners failed to capitalize on the cryptocurrency's rise and ended the year in the negative According to

Hashrate Index and Google Finance, listed miners ended 2024 in the negative for most of them, with a drop of 84%. Of the 25 miners listed in the
index, only seven made investors a profit last year. At the time of writing, Bitdea (BTDR) is up 167%, Cipher (CIFR) is up 33%, Hat8 (HUT) is up 91%, Iris Energy (IREN) is up 72%, Northern Data (NB2) is up 58%, #Core Scientific (CORZQ) is up 327%, and TerraWolf (WULF) is up 169%.
Meanwhile, Argo Blockchain (ARB) is down 84%, Sphere 3D (ANY) is down 69%, MARA Holdings (MARA) is down 12%, HIVE (HIVE) is down 29% and Greeridge (GREE) is down 74%, BitFarms (BITF) is down 44%, BitFU (FUFU) is down 18%, etc.
Overall, 2024 will be a year of adjustment for #bitcoin #mining companies as they focus on reducing fees, increasing costs, and finding new revenue streams to sustain their businesses. Since the inception of the network
miners have earned a total of more than $71 billion, but roughly every four years, an event occurs that halves the revenue from mining new blocks. Most recently, in April, the value of bitcoin plummeted and miners' rewards dropped from 6.25 #BTC to 3.125 BTC.
According to Blockchain. com, as of Dec. 22, miners earned $42 million, down from more than $100 million in April.
Meanwhile, the complexity of creating new blocks on the bitcoin blockchain has doubled since last year, adding pressure to the rising operating costs associated with bitcoin mining. The average difficulty level for bitcoin is now 108.52, up from 72.01 a year ago, reflecting a 50.71% increase over the past 12 months.
Increased operating costs have also driven up the cost of mining. For example, BitFuFu reported a 168 percent increase in bitcoin mining costs to $51,887 per BTC, as well as a 62.5 percent increase in mining capacity.

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