China’s consumer prices unexpectedly rose in October, driven by higher demand for travel, food, and transport during the month’s holidays.
The consumer price index (CPI) increased by 0.2% compared with the same period last year, reversing a 0.3% decline in September, according to data released on Sunday by the National Bureau of Statistics. Economists surveyed by Bloomberg had expected a 0.1% drop.
Rising service costs also contributed to the uptick in inflation. Service prices increased by 0.2% in October, after a 0.3% decline the previous month, the statistics bureau reported.
Meanwhile, China’s producer price index (PPI) fell 2.1% year on year, a slightly smaller decline than September’s 2.3% drop.
Bloomberg
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