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  HOME | Business & Economy (Click here for more)

Chinese Inflation Steady at 2.5% Year-on-Year in October

BEIJING – China’s Consumer Price Index (CPI), the main indicator of inflation, increased 2.5 percent in October compared to the same month last year, the same rise that was recorded in September, the National Statistics Office (NSO) said on Friday.

In year-on-year terms, the main driver of inflation was the price of food, which rose by 3.3 percent compared to October 2017.

Rising food prices included fruit (11.5 percent), fresh vegetables (10.1 percent) and eggs (7.8 percent). Pork, a staple in the Chinese diet, fell by 1.3 percent.

The prices of non-food products rose 2.4 percent.

The Chinese government’s inflation target for 2018 is 3 percent, a figure that was reaffirmed in April. Last year, it failed to meet similar expectations when the CPI increase was 1.6 percent.

 

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