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China’s CPI up 1.3% in October, PPI still negative

China’s consumer inflation moderated again in October. Producer prices declined for the 44th straight month.

According to the National Bureau of Statistics, the Consumer Price Index for October was up 1.3 percent from the same period last year, but lower than the 1.6 percent recorded in September.

Producer prices for October remained in the negative area for the 44th consecutive month. The data recorded was down 5.9 percent, identical with the decline in September and August.

The bureau attributed slowing inflation to falling food prices, especially for pork, vegetables and eggs. Food prices account for around one-third of the CPI calculation. The bureau says falling manufacturing prices were mainly due to low commodity especially energy prices and sluggish global demand.