China’s October CPI rises 3.2% year on year
China’s consumer price index or CPI, a main gauge of inflation, has risen 3.2 percent year on year i…China’s consumer price index or CPI, a main gauge of inflation, has risen 3.2 percent year on year in October, up from 3.1 percent in September.
Last month, food prices rose 6.5 percent year on year, while prices of non-food products moved up 1.6 percent. Food prices account for about one-third of the CPI calculation. In the first ten months, CPI growth stood at 2.6 percent on average, well below the government’s full-year target of 3.5 percent.
The data also shows China’s producer price index, which measures inflation at the wholesale level, fell 1.5 percent in October from a year ago.