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  HOME | Business & Economy (Click here for more)

Chinese Inflation Drops to 1.6% in September

BEIJING – China’s consumer price index rose 1.6 percent in September from the same month in 2016, a 0.2 percentage point lower than in August, when the rise had been 1.8 percent year-on-year, the National Bureau of Statistics of China reported on Monday.

Compared to August, prices in September increased by 0.5 percent.

As in the previous fiscal year, China has aimed to keep domestic inflation at around 3 percent by the end of the year.

The producer price index, which measures inflation at the wholesale level, also saw a 6.9 percent year-on-year increase in September, surpassing analysts’ expectations, according to the Bureau.

This progress represents an acceleration of 0.6 percent compared to the month of August, when the year-on-year rise was 6.3 percent.

China’s demand for raw materials and the construction boom, which boosts prices for materials such as copper or steel, have been some of the contributing factors to the upturn, according to observers.

 

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