The core CPI, excluding sectors including energy, increased by 0.8 per cent year-on-year (YoY) in September. This figure mirrors the pace of increase seen in August. Additionally, the average CPI from January–September showed a YoY increment of 0.4 per cent, according to the National Bureau of Statistics (NBS).
Non-food prices exhibited a growth of 0.7 per cent compared to the same period last year, slightly up from a 0.5 per cent growth in August.
Dong Lijuan, an NBS statistician, attributed the stagnant CPI to a high comparison base in the previous year. The narrowing YoY decline in PPI was influenced by improved demand for industrial products and spikes in international oil prices.
In related news, China’s producer price index (PPI), a measure of factory-gate prices, was down by 2.5 per cent YoY in September, showing an improvement from a 3 per cent annual contraction in August. The country’s PPI rose by 0.4 per cent MoM in September after a 0.2 per cent rise in the previous month.
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