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China's CPI rises 3% year-on-year in Sept

2019-10-21 09:58:20 China Daily

China's consumer price index, a main gauge of inflation, rose by 3 percent year-on-year in September, versus 2.8 percent a month earlier, according to the National Bureau of Statistics on Tuesday.

The rise was mainly attributable to an 11.2 percent year-on-year rise in food prices last month, with pork prices soaring by 69.3 percent and pushing up the CPI by 1.65 percentage points, the NBS said. Poultry and egg prices rose by 14.7 percent and 9.4 percent year-on-year last month, respectively.

Fruit prices rose by 7.7 percent year-on-year in September, down by 16.3 percentage points from the growth in August, while vegetable prices went down 11.8 percent.

Nonfood prices registered a mild rise of 1.0 percent year-on-year in September.

In the January-September period, the CPI on average rose by 2.5 percent year-on-year, below the 3 percent annual control target, NBS data showed.

Meanwhile, the producer price index, which gauges factory gate prices, dropped for the third month in a row by 1.2 percent year-on-year in September, the steepest contraction since July 2016, according to the NBS. The PPI declined by 0.8 percent in August.

During the January-September period, the average PPI remained unchanged from a year earlier.

On a month-on-month basis, the CPI rose by 0.9 percent, and the PPI edged up by 0.1 percent, the NBS said.

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