China’s consumer inflation retreated in September on the back of slower pace of food prices growth, the National Bureau of Statistics (NBS) said.
The consumer price index (CPI) grew by 1.6% year-on-year in September after rising by 1.8% in the previous month. The score matched analysts’ expectations.
Food prices declined by 1.4% from a year ago following a 0.2% fall in August. Non-food prices gained 2.4% on a yearly basis after a 2.3 rise in August.
Consumer goods increased by 0.7%, while services costs advanced by 3.3%.
The Chinese government has been committed to keep inflation at the level of 3% in 2017.
On a quarterly basis, consumer prices rose by 0.5% in September after climbing by 0.4% in the prior month.
Producer prices rose by 6.9% last month on a yearly basis after a 6.3% increase in August. Meanwhile, experts had anticipated a 6.4% rise.
Month-on-month, producer prices edged up by 1%. In July, prices rose by 0.9% on a monthly basis.
