Caixin
Oct 14, 2022 05:46 PM
ECONOMY

China’s Inflation Remains Subdued on Lockdowns, Commodity Prices

“China is heading to an era of deflation as economic activity is waning,” said Raymond Yeung, chief economist for Greater China at Australia & New Zealand Banking Group. Photo: Bloomberg
“China is heading to an era of deflation as economic activity is waning,” said Raymond Yeung, chief economist for Greater China at Australia & New Zealand Banking Group. Photo: Bloomberg

(Bloomberg) — China’s consumer inflation remained subdued in September as lockdowns continued to impact spending habits, while soft commodity prices kept producer inflation in check.

The consumer price index rose 2.8% last month from a year earlier, the National Bureau of Statistics said Friday, a rise largely driven by pork prices. While that was the highest since April 2020 and up from 2.5% in August, it was marginally weaker than the median forecast for a 2.9% increase in a Bloomberg survey of economists. Core inflation, which excludes volatile food and energy costs, slowed to 0.6% from 0.8% in August, the weakest pace since March 2021.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code