Consumer prices stayed steady at 2.5% y/y last month, in line with market estimates, while factory inflation eased following a drop in global oil prices, official data shows.
The headline CPI figure is still relatively high compared with previous years, mostly pushed up by food prices in the wake of recent one-off agricultural events. Core inflation, which ignores food and energy prices, only moved up 1.8% y/y from 1.7% in September.
Producer inflation eased to 3.3% y/y from 3.6% the month before, according to the data. Falling global oil prices and cuts by the Chinese government to domestic fuel prices likely helped to cool factory prices, on top of a wider slowing of economic activity.