China October inflation eases

Beijing, Nov 10 (IANS) China’s consumer price index (CPI), the main gauge of inflation, grew 1.3 percent year-on-year in October, the National Bureau of Statistics (NBS) said on Tuesday.

The weaker-than-expected reading slowed from the 1.6-percent gain in September and 2-percent in August. On a monthly basis, consumer prices edged down 0.3 percent, reported Xinhua news agency.

NBS statistician Yu Qiumei attributed the slowdown to falling pork and vegetable prices due to ample supplies. Food prices, which account for nearly one-third of weighting in China’s CPI, went down 1 percent from a month earlier.

Meanwhile, China’s producer price index (PPI), which measures wholesale inflation, plunged 5.9 percent year-on-year last month, marking the 44th straight month of decline that pointed to continuing weak market demand.

 

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here