China’s CPI rose 0.3% year-on-year in October

The National Bureau of Statistics of China released data on the 9th showing that in October, the national consumer price index (CPI) rose 0.3% year-on-year, down 0.1 percentage point from the previous month, and the consumer market was generally stable.

Statistical data show that in October, food prices rose 2.9% year-on-year, down 0.4 percentage points from the previous month. Among food, the prices of fresh vegetables, pork and fresh fruits rose by 21.6%, 14.2% and 4.7% respectively, and the growth rates all fell; the prices of beef, mutton, cooking oil and eggs fell between 2.7% and 13.4%.

In October, non-food prices fell 0.3% year-on-year, an increase of 0.1 percentage point from the previous month. Among non-food items, energy prices fell 5.1%, an increase of 1.6 percentage points from the previous month, of which gasoline prices fell 10.7%. The prices of industrial consumer goods excluding energy fell by 0.2%, the same as last month, of which the prices of new energy cars and fuel cars fell by 6.6% and 6.1% respectively. The prices of services rose by 0.4%, an increase of 0.2 percentage points from last month.