Oct inflation eases to 5.5%
Updated: 2011-11-09 09:46
(Xinhua/Agencies)
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BEIJING -- China's consumer price index (CPI), the main gauge of inflation, rose 5.5 percent year-on-year in October, weakening from September's 6.1 percent, the National Bureau of Statistics (NBS) said on Wednesday.
The October CPI growth marked the slowest surge since May this year, softening from 6.1 percent in September, 6.2 percent in August, 6.5 percent in July and 6.4 percent in June.
On a monthly basis, the cost of living added 0.1 percent in October,said the NBS in a statement at its website.
Food prices, which account for nearly one third of the basket of goods in the nation's CPI calculation, moved up 11.9 percent in October from a year earlier but dipped 0.2 percent month-on-month, according to the NBS.
Prior to the NBS announcement, many economists expected the October CPI to rise by 5.4 percent year-on-year.
China's CPI hit a 37-month high of 6.5 percent in July this year, which was far above the Chinese government's full-year target of 4 percent for 2011.
China's PPI up 5.0% in October
China's Producer Price Index (PPI), a main gauge of inflation at the wholesale level, rose 5 percent year-on-year in October, the National Bureau of Statistics (NBS) said Wednesday.
The reading eased from a growth of 6.5 percent in September.
On a month-on-month basis, October's reading fell 0.7 percent from that recorded in September, the NBS said in a statement on its website.
During the first ten months of this year, the PPI climbed 6.8 percent year-on-year.
