BEIJING (Reuters) – The rise in consumer prices in China slowed in October, while producer prices continued to decline, official data showed on Saturday, despite new stimulus measures deployed by Beijing.
China unveiled new measures on Friday allowing local governments to issue an additional 6,000 billion yuan (779.7 billion euros) of bonds to be exchanged for off-balance sheet or “hidden” debts over three years.
According to the National Bureau of Statistics (NBS), the consumer price index (CPI) increased last month by 0.3% year-on-year, after an increase of 0.4% in September. The consensus was +0.4%.
On a monthly basis, the CPI fell by 0.3% in October, after remaining stable the previous month, while analysts on average expected a drop of 0.1%.
For its part, the producer price index (PPI) fell last month by 2.9% year-on-year, after a drop of 2.8% in September, against a consensus of -2.5%.
(Qiaoyi Li, Ellen Zhang and Ryan Woo; French version Camille Raynaud)
