China’s consumer price index rose 1.5% year-on-year in November, indicating an uptick in inflation for consumer goods that remained far below Beijing’s target rate of 3% for the year, while the country’s official producer price index for the period held at -5.9% for another month, pointing to continued overcapacity in heavy industry and marking that figure’s 45th straight month of declines, Reuters reported. China’s central bank has already cut interest rates six times since last November and reduced the amount of cash that banks must set aside as reserves in a bid to avert a sharper economic slowdown, but the moves to date have done little to spur demand.