China's inflation slower than expected

China’s consumer inflation rate slowed more than expected to a 33-month low as food prices rose at a slower pace, Bloombergreported. Producer prices showed a month-on-month increase. The National Bureau of Statistics revealed Friday that the consumer price index increased 1.7% year-on-year in October. The rise was below an average of analysts’ estimates, according to data compiled by Bloomberg News. The figure was lower than the 1.9% annual increase in September. Producer prices fell 2.8% year-on-year in October, after dropping 3.6% in September. The data showed the first increase since March, when prices saw an annual decline as domestic demand stalled. The figures signaled an upswing in industrial demand and may spell a continuation of the pause in monetary easing which started in July.