China's CPI moderates seven tenths in October, down to 2.1%

MADRID, 9 Nov.

China's CPI moderates seven tenths in October, down to 2.1%


China's CPI moderated its year-on-year growth in October seven tenths, to 2.1%, after having registered its highest rate since April 2020 (2.8%) in September, according to data published this Wednesday by the National Office of Statistics (ONE).

The year-on-year rate registered in October (2.1%) is the lowest since last May, when the Asian giant's CPI also rose by 2.1%.

The Chinese CPI has not registered such a marked decrease in its year-on-year rate of change since December 2021, when it fell eight tenths.

From January to October, China's inflation rate increased by an average of 2%, while in monthly terms (October over September), the Asian giant's CPI rose by 0.1%, compared to the 0.3% increase experienced The last month.

In the tenth month of the year, food prices in China increased by 7% annually, while prices of non-food products rose by 1.1%. Consumer prices increased 3.3% and services prices increased 0.4%.

Among foods, the price of fresh fruits rose 12.6%, while the price of cattle and meat shot up 23.6%, mainly affected by the 51.8% increase in pork prices. .

For its part, China's industrial producer price index decreased by 1.3% year-on-year in October, registering its first drop in almost two years. In monthly rate, this indicator rebounded 0.2%.

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