China’s consumer prices in October slowed to their lowest level in 11 years, data released on Tuesday showed, reported the South China Morning Post.
China’s official consumer price index (CPI) rose just 0.5% in October from a year earlier, down from 1.7% in September, the National Bureau of Statistics (NBS) said on Tuesday. This was below the median expectations in a Bloomberg survey of analysts for a rise of 0.8% as it hit its lowest level since October 2009, when it was also 0.5%.
This drop was helped by China’s pork prices in October falling 2.8% from a year ago, down significantly from September when pork prices rose 25.5%, the first time the annual rate has turned negative in 19 months, said the SCMP.