China’s consumer prices rose in October, official data released over the weekend showed, reversing months of stagnation and decline as the country battles a range of economic headwinds.<\/p>\n
Beijing has struggled to maintain a strong economic recovery from the pandemic, as it fights a debt crisis in its massive property sector, chronically low consumption and elevated youth unemployment.<\/p>\n
The consumer price index, a key measure of inflation, rose 0.2% year-on-year last month, according to the National Bureau of Statistics (NBS).<\/p>\n
Consumer prices were stagnant in July followed by two months of decline.<\/p>\n
A trade war with the US has intensified China’s economic challenges.<\/p>\n
But the world’s two biggest economies reached a detente after US President Donald Trump met with his Chinese counterpart Xi Jinping in South Korea at the end of October.<\/p>\n
Chinese factory gate prices also dropped in October, the NBS reported, but at a slower rate than the previous month.<\/p>\n
The Producer Price Index (PPI), which measures the prices of goods before they enter wholesale or distribution, fell by 2.1% in October from a year earlier, compared to 2.3% in September.<\/p>\n
A fall in PPI means tighter margins for companies engaging in fierce price wars, which authorities are trying to curb.<\/p>\n","protected":false},"excerpt":{"rendered":"China’s consumer prices rose in October, official data released over the weekend showed, reversing months of stagnation and…\n","protected":false},"author":2,"featured_media":131816,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-131815","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/131815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=131815"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/131815\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/131816"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=131815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=131815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=131815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}