This information has been prepared by IG, a trading name of IG Australia Pty Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
China’s consumer prices rose for the fifth straight month in October on a year-on-year basis, in line with market expectations.
Consumer Price Index (CPI) increased 2.5% from a year ago for last month, in the same pace of increase in September, China’s National Bureau of Statistics said on Friday. Experts in a Reuters poll had expected a 2.5% gain.
Food prices were up by 3.3% from a year ago while non-food prices rose 2.4%.
Month-on-month, consumer prices edged up 0.2%, easing from the 0.7% increase in the previous month as the winter season creeps in.
Prices of industrial products for the domestic market moderated from the previous month, with the Producer Price Index rising 3.3% in October year-on-year, matching analysts’ expectations. In September, producer prices slowed to rise by 3.6% from August’s 4.1% increase.
Experts had predicted a slower rise in producer prices amid slacking economic momentum and China's ongoing trade conflict with the United States. For the third quarter, China’s economy grew at the weakest pace since the first quarter of 2009.
China’s consumer inflation target for this year is at 3.0%, in the same pace of increase as last year. The government has said that consumer prices are expected be on a reasonable pace of increase, with no sudden surprises.
.jpg)
