China's consumer price index up 1.2% in October


SHANGHAI, China: China's consumer price index, the country's key inflation measure, rose 1.2 percent in October from a year ago, the government reported Friday, showing inflation remains tame. 

Higher prices for vegetables and fuel propelled the index above September's increase of 0.9 percent - the slowest so far this year. For the January-October period, inflation rose 1.9 percent compared to the same period of 2004, the National Bureau of Statistics reported. 

China's central bank recently cut its forecast for the consumer price index to about 2 percent from the original 3 percent to 3.5 percent. 

The report said vegetable prices rose 17.5 percent year-on-year in October, following summer typhoons that damaged crops. 

Residential utilities costs rose 6.6 percent, while fuel and components cost 10.5 percent more. 

Prices for grain, a key factor in the index, fell 0.8 percent and declines were also seen for meat, poultry, eggs and transportation equipment. 

Prices for telecommunications equipment, such as mobile phones, slipped 15 percent, the report said. - AP

For Another perspective from the China Daily, a partner of Asia News Network, click here

Latest business news from AP-Wire 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

DNeX expects SilTerra, Ping Petroleum to drive FY22 earnings�
Hong Seng to dispose hire purchase unit for RM34.5mil
Bank Negara launches new alternative reference rate
RAM Ratings: Interest waiver to hit banks’ earnings recovery
FBM KLCI finishes 7.28 points lower
China shares end lower as materials weigh; property sector down
EPF to help members restore and rebuild their nest eggs
EPF 1H investment income up 25% to RM34.05b
Asian stock markets wobble as China Evergrande woes sap confidence
Bursa Securities queries SAM after share price spike

Stories You'll Enjoy


Vouchers