China's inflation eases to 0.3% in October
China's consumer prices showed a modest 0.3% year-on-year increase in October, slightly lower than September's 0.4% rise, according to data released by the National Bureau of Statistics (NBS). The slight deceleration in inflation reflects a combination of falling energy prices and stable food costs, while still indicating continued economic recovery.
The core Consumer Price Index (CPI), excluding food and energy prices, edged up to 0.2% year-on-year in October from September's 0.1%. However, the overall CPI experienced a monthly decline of 0.3%, following September's unchanged reading.
Meanwhile, the Producer Price Index (PPI), measuring factory gate costs, fell 2.9% year-on-year in October, marginally deeper than September's 2.8% decline. The monthly PPI decrease narrowed to 0.1%, showing improvement from September's 0.6% drop and August's 0.7% decline.
This price stability comes amid China's ongoing economic recovery efforts, supported by government initiatives launched in March to stimulate domestic demand. These programs, focusing on equipment upgrades and consumer goods trade-ins, have helped boost sales across various sectors, from automobiles to home appliances.
The data suggests China's economy continues its recovery trajectory, with price levels remaining stable throughout the year, supported by effective growth policies and strengthening domestic demand. The modest inflation figures indicate a balanced economic environment as China pursues its post-pandemic recovery.
