China's Consumer, Producer Prices Both Grew Slower Last Month
Xu Wei
/SOURCE : Yicai
China's Consumer, Producer Prices Both Grew Slower Last Month

(Yicai Global) Nov. 9 -- China's official consumer price and producer price indexes both grew slower in October than the previous month as falling food prices put a dampener on expansion.

The CPI rose 0.2 percent, 0.5 point less than in September, according to data from the National Bureau of Statistics. The figure was up 2.5 points from a year earlier and matched the previous month's annual growth.

Food prices fell 0.3 percent in October, resulting in the CPI falling by about 0.05 percent, said Sheng Guoqing, a senior statistician at the bureau's department of urban surveys.

Inflation this year made up about 2.2 percent of the annual growth he added, with carry-over from last year's price changes making up the remainder.

Sheng did not explain the decline in PPI growth, which also slowed by 0.2 point to 0.4 percent in September.

PPI expansion was up 3.3 percent on the year, 0.3 point lower than the month ago period. 2018 price gains made up about two thirds of the rise, he added.

Editor: James Boynton

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Keywords: CPI , PPI , NBS