China’s consumer inflation eased in October, while factory-gate prices fell from a year ago for the first time in nearly two years, reflecting weakening domestic demand as the economy cooled further.
China’s consumer price index rose 2.1% from a year earlier in October, easing from the 2.8% recorded in September, the National Bureau of Statistics said Wednesday. The result was lower than the 2.3% median forecast by economists polled by The Wall Street Journal.
The producer price index dropped 1.3% in October from a year earlier, compared with 0.9% growth in September, official data showed.
The PPI reading dropped for the first time since December 2020, when producer prices fell 0.4%. Surveyed economists had expected PPI to fall 1.5%.