China's Producer Prices Jump 5.7% as October Consumer Inflation Slows to 0.7%
Updated
Updated · Reuters · Nov 9
China's Producer Prices Jump 5.7% as October Consumer Inflation Slows to 0.7%
3 articles · Updated · Reuters · Nov 9
Summary
China’s October producer-price inflation accelerated to 5.7%—the fastest since June 2022 and above the 5.3% Reuters poll forecast—while consumer inflation cooled to 0.7% from 0.9% in September.
Mining and raw-materials costs drove the PPI surge, while CPI was still supported by gasoline prices but dragged down by a sharper-than-expected drop in food prices, according to the statistics bureau.
Core inflation eased to 0.8% from 1.0%, underscoring softer underlying consumer demand even as factory-gate price pressures intensified.
The mixed inflation data landed as China shows signs of firmer growth after a stronger-than-expected third quarter and a retail-sales beat in September; the CSI 300 rose 0.56% after the release.