Overview
- Official data show CPI rose 0.2% year on year in October and 0.2% month on month, topping forecasts for no change.
- Core consumer inflation accelerated to 1.2% year on year, the highest in about 20 months, while food prices fell 2.9% from a year earlier.
- Producer prices declined 2.1% from a year earlier, easing from September’s 2.3% drop and marking a 37th straight monthly fall.
- NBS statistician Dong Lijuan said capacity management in key industries narrowed price declines, citing coal, photovoltaic equipment, batteries and autos.
- Policy remains targeted rather than broad, with the central bank keeping rates steady for five months as analysts warn it is premature to call an end to deflation.