BUSINESS China's CPI up 0.7 pct in September

BUSINESS

China's CPI up 0.7 pct in September

People's Daily app

09:33, October 14, 2021

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BEIJING, Oct. 14 (Xinhua) -- China's consumer price index (CPI), a main gauge of inflation, rose 0.7 percent year on year in September, data from the National Bureau of Statistics (NBS) showed Thursday.

The figure was lower than the 0.8 percent year-on-year growth recorded in August.

The slower growth was partly driven by a drop in food prices, which declined 5.2 percent year on year last month. In particular, the price of pork, a staple meat in China, slumped 46.9 percent from a year earlier, said senior NBS statistician Dong Lijuan.

China's producer price index, which measures costs for goods at the factory gate, went up 10.7 percent year on year in September, according to the NBS.

China has set its consumer inflation target at approximately 3 percent for the year 2021, according to this year's government work report.


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