Consumer prices in China unexpectedly rose last month, new data showed Sunday, a sign that deflationary pressures on the world’s second-largest economy may be easing.
The Golden Week holiday in October contributed to the 0.2% year-on-year rise, the first positive reading since June, analysts said.
Chinese policymakers have prioritized fighting “involution,” a term that refers to punishing price wars across industries that have accelerated deflation, sparking concerns of a growth slowdown.
While the latest data is welcome news to Beijing, the downward pressures are “entrenched” and the latest boost in prices will likely fade, a Bloomberg analyst said.
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