Chinese inflation in October maintains year-on-year growth of 2.5%

Beijing, November 9 (EFE). – The CPI of China, the main inflation indicator, rose 2.5% in October compared to the same month of last year, copying the progress recorded in September, the ONE announced today.

ONE statistics Sheng Guoqing, however, pointed out that the rate of inflation was slightly lower than in September, which was 0.2% compared to 0.7% in the previous month, something that attributed mainly to the fall in food prices.

However, in the year-on-year terms, the main factor behind the food price was the food price, which grew by 3.3% compared to October 2017.

Protagonists of this growth were the price of fruit (11.5%), fresh vegetables (10.1%) and eggs (7.8%); in the matter of meat. The lamb prices (9.9%), followed by veal (4.5%) and chickens (4.3%) increased most.

Despite this, pork – the main source of food for China – declined by 1.3%.

On the other hand, non-food products recorded a 2.4% appreciation, with gasoline (22.5%) and diesel (25%) contributing significantly, with advances far higher than petrol. education (3.2%), health (2.6%) and housing (2.5%).

ONE also announced today that the PPI, which measures wholesale inflation, rose 3.3% y / y in October, down from 3.6% in September,

Of the forty industry sectors surveyed, they recorded 27 price increases, 8 remained at the same level and 5 declined.

The oil and gas sector recorded a 42.8% increase in prices.

Industry followed, such as non-metallic mining (7.3%), foundry and rolling of ferrous metals (6.9%) or chemistry using and processing chemical raw materials (6.1%). ).

The Chinese government's inflation target for 2018 is 3%, a figure confirmed in April, despite the fact that it did not achieve similar expectations last year, as the CPI advance was 1.6%

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