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ECONOMY

China Sees No Letup in Inflation

By Fran Wang
Food prices in China dropped 0.4% in October from a year ago, dragging the consumer price index down 0.08%. Above, supermarket customers buy pork in Hangzhou, Zhejiang province, on Thursday. Photo: IC
Food prices in China dropped 0.4% in October from a year ago, dragging the consumer price index down 0.08%. Above, supermarket customers buy pork in Hangzhou, Zhejiang province, on Thursday. Photo: IC

China’s consumer inflation hit a nine-month high in October while the increase in industrial prices remained elevated, official data showed on Thursday, but some analysts say inflationary pressure is unlikely to last long given the slowing momentum of growth in the world’s second-largest economy.

The consumer price index (CPI) jumped 1.9% in October from a year ago, the biggest increase since January’s 2.5%, the National Bureau of Statistics (NBS) said. Although the number beat the median forecast of 1.8% in a Bloomberg News survey of economists, it remains well below the government’s full-year inflation ceiling of around 3%.

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