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China's October PPI falls faster than expected, consumer inflation eases

The producer price index fell 2.1% from a year earlier, the National Bureau of Statistics said in a statement

China | Chinese economy | Xi Jinping

Reuters  |  BEIJING 

Chinese economy
The consumer price index rose 0.5% from a year earlier.

BEIJING (Reuters) - China's factory-gate prices declined at a sharper-than-expected rate in October year-on-year, while consumer inflation eased to its slowest since 2009, data showed on Tuesday, underscoring the fragile nature of the economic recovery.

The producer price index fell 2.1% from a year earlier, the National Bureau of Statistics said in a statement, unchanged from a 2.1% drop in September and missing expectations for a 2.0% decline tipped by the median forecast from a Reuters survey of analysts.

The bureau said in a separate statement that the consumer price index rose 0.5% from a year earlier, the slowest since October 2009 and compared with a 0.8% rise tipped by the Reuters poll and a 1.7% rise in September.


(Reporting by Stella Qiu and Ryan Woo; Editing by Sam Holmes)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Tue, November 10 2020. 07:32 IST