Consumer Prices in China Rise in October Due to Holidays

SadaNews - Consumer prices in China unexpectedly rose in October, supported by the holidays during the month which boosted demand for travel, food, and transportation.

The consumer price index increased by 0.2% last month compared to the same period a year earlier, after a decrease of 0.3% in September, according to data released by the National Bureau of Statistics on Sunday. The median forecast of economists surveyed by Bloomberg indicated a decline of 0.1%.

Service costs rose by 0.2%, compared to a decrease of 0.3% in September, contributing to the acceleration in inflation, according to the bureau.

The producer price index fell by 2.1% year-on-year, compared to a decline of 2.3% in September.