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.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.