BEIJING, Nov. 14 - China's consumer price index (CPI),a main gauge1 of inflation, rose 6.5 percent year-on-year in October, the National Bureau of Statistics (NBS) said on Tuesday.
The figure was the same as in August, when the CPI increase reached an 11-year monthly record. The rate of increase in the CPI eased slightly to 6.2 percent in September.
Consumer prices rose 4.4 percent in the first ten months of the year, compared with 4.1 percent for the Jan.-Sept. period.
Analysts2 said the rise in the October CPI was largely due to higher pork and food prices.
"As winter comes, demand for pork and other food products is increasing by a large margin3, so food prices went up in October," said Yao Jingyuan, chief economist4 with the NBS.
Food prices jumped 17.6 percent in October, 0.7 percentage points higher than in September but 0.6 percentage points lower than in August, the bureau said.
In October, grain prices were up 6.7 percent, pork prices 54.9 percent, meat and poultry5 38.3 percent, cooking oil 34.0 percent, aquatic6 products 7.0 percent, fresh vegetables 29.9 percent, and fresh fruit, 8.5 percent.
Prices of non-food products rose 1.1 percent.
Transport and telecommunications prices dropped 1.7 percent and clothes prices slid 1.3 percent, but housing prices were up 4.8 percent.
The bureau said the CPI in October surged by 6.1 percent in cities and 7.2 percent in rural areas, but it predicted inflation would ease in November and December.
The Producer Price Index (PPI) for industrial products, which affects consumer prices, rose 3.2 percent year-on-year in October, said the bureau on Monday.
|