China’s inflation expanded slower than expected in September while the slump in producer prices extended into 43 consecutive months, official figures show.
The National Bureau of Statistics of China said on Wednesday the consumer price index in China rose 1.6 percent in September from a year earlier. It was less than the median estimate of 1.8 percent polled by news agency Reuters and down from an increase of 2 percent in August.
Yu Qiumei, a senior statistician at the bureau, said in a statement accompanying the announcement that the easing inflation in September was mainly due to a higher year-on-year comparison base.
Increases in pork and vegetable prices drove the hike – these segments posted increases of 17.4 percent and 10.4 percent respectively from a year earlier, the National Bureau of Statistics statement noted.
Meanwhile, the bureau also said the producer price index fell 5.9 percent from a year ago. The decline rate remained unchanged from that reported in August – the biggest fall since 2009.