The Consumer Price Index (CPI), China’s main inflation indicator, rose 0.3 percent year-on-year in October, down 0.1 points from the month’s figure. previous, which was 0.4%.
The indicator, published today by the National Statistics Office (ONE) of the Asian country, is also lower than the most widespread forecasts among analysts, who expected it to remain precisely at the level same level as in September.
In the monthly comparison, prices slow for the fourth consecutive month and entered negative territory (-0.3%) for the first time since June. Experts anticipate a possible drop compared to September prices, but a little less pronounced, approximately 0.1%.
ONE statistician Dong Lijuan attributed the figures to falling food prices. “high level” due to the good weather – this favors the production, storage and transport of fresh products – and also because gasoline is cheaper.
The latter, for example, was also noted in the figures relating to the “golden week” after the National Day (October 1), one of the main holiday periods in China: although prices of hotels and tourist packages increased by 4.1% and 1.3% respectively, the drop in fuel costs made airline tickets a 5.6% cheaper despite increased demand.
Dong expects in any case a positive note and underlines the slight progression (from 0.1% to 0.2% over one year) of the core inflationa meter that excludes food and energy prices due to their volatility.
The ONE also made public the producer price index (IPP), which measures industrial prices and which it has further analyzed its decline went from 2.8% in September to 2.9% in the tenth month of the year.
This indicator is also lower than expected by experts, who predicted a decline in October, but not as deep. placing it around 2.5%.
After more than two consecutive years of declinethe ONE continues to point out the drop in international prices of raw materials, while warning that the support measures recently announced by Beijing will make prices “stabilize” by stimulating demand at the national level.
