China’s consumer price index rose 1.3% year-on-year in October as with inflation cooled from 1.3% in September, while the producer price index fell 5.9% for the second straight month as overcapacity weighed on heavy industry, Reuters reported, citing new figures from the National Bureau of Statistics. While consumer price inflation in China is highly seasonal due to the outsize index weight of food prices , economists also highlighted weakening sequential momentum as a concern. Heavy industrial firms and miners, hit by an extended slump in the real estate sector which drives final demand for many of their products, have fared particularly poorly.
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