Consumer price levels rose at a faster rate in September than the previous month, according to official data.
China’s CPI rose 2.5% year-on-year, matching average market forecasts. This is two percentage points faster than in August, making September the fourth straight month of acceleration.
Producer prices increased 3.6% y/y, slowing from 4.1% the previous month.
Agricultural events including swine flu outbreaks and extreme flooding have pushed up consumer prices in recent months, as well as efforts by Beijing to boost spending. The government’s inflation target for the year is 3%.