China’s producer price index reached 5.7% year-on-year in October, above the 5% increase recorded in September, according to data released this Monday by the National Bureau of Statistics of the Asian country.
With this figure, inflation at the origin of China’s industry already totals eight consecutive months of year-on-year increases, in parallel with the months of conflict in the Middle East, after previously chaining 41 consecutive months of declines.
Compared with September, the monthly reading of the producer price index showed an increase of 0.7% in October, which means three consecutive months in positive territory, according to official figures from the Chinese statistical agency.
As for consumer prices, China’s consumer price index (CPI) recorded in October a year-on-year increase of 0.7%, two-tenths less than in the preceding month, while the monthly variation remained unchanged.
Within the CPI, food prices fell 2.9% year-on-year in October, while non-food products became 1.5% more expensive. In turn, prices of consumer goods and services registered increases of 0.8% and 0.7%, respectively.
Between January and October, China’s CPI accumulated an average increase of 0.9% compared with the same period of the previous fiscal year, according to the National Bureau of Statistics.