SHANGHAI: China’s consumer inflation rate slowed in October, official data showed Saturday ( Nov 9 ), in a sign that demand remains sluggish in the world’s number two economy.
Regulators have been attempting to boost domestic exercise as a home problems strains confidence.
The consumer price index ( CPI), a key measure of inflation, rose 0.3 per cent year-on-year in October, down from 0.4 per cent in September, the National Bureau of Statistics ( NBS ) said.
The most recent figure was below the Bloomberg economists ‘ forecast of 0.4 %.
The information was made public after Chinese lawmakers released a comprehensive plan to reduce regional government debt and increase spending on Friday.
China has been battling lower or bad costs while many of the major American nations have been grappling with the risk of higher prices.
The nation plunged into recession for four months at the end of 2023, with January experiencing the nation’s worst price decline in 14 times.
Factory-gate charges also slid 2.9 per share year-on-year in October, compared to a decrease of 2.8 per share in September, the NBS said on Saturday.
This prolongs a negative trend that started in late 2022.