Con­sumer in­fla­tion up 1.6 per­cent in Septem­ber

China Daily (Canada) - - NEWS CAPSULE -

China’s con­sumer in­fla­tion re­treated mildly in Septem­ber, weighed down by drop­ping food prices, while growth in fac­to­ry­gate prices hit a six-month high on strong do­mes­tic de­mand for raw ma­te­ri­als.

The con­sumer price in­dex (CPI) grew 1.6 per­cent year-on-year in Septem­ber, slow­ing from Au­gust’s 1.8 per­cent, but still faster than July’s 1.4 per­cent, the Na­tional Bureau of Statis­tics (NBS) said. It was the eighth straight month for the main gauge to stay be­neath the 2 per­cent mark.

On a monthly ba­sis, the in­dex was up 0.5 per­cent, slightly higher than the 0.4 per­cent seen in the pre­vi­ous month.

NBS statis­ti­cian Sheng Guo­qing at­trib­uted the milder in­fla­tion to lack­lus­ter food prices, which ac­count for a sig­nif­i­cant part of the CPI cal­cu­la­tion.

The in­crease in non-food prices picked up. Led by ser­vices in­clud­ing heath care and home rents, non-food prices gained 2.4 per­cent year-on-year. The pace quick­ened marginally from Au­gust’s 2.3 per­cent.

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