China's September CPI rises 0.9 per cent year on year, a three-month high
China's consumer price index rose 0.9 per cent year on year in September, up 0.1 percentage points from August, according to the National Bureau of Statistics. Food prices fell 1.7 per cent while non-food prices rose 1.5 per cent, and the producer price index rose 5 per cent.
China's consumer price index (CPI) rose 0.9 per cent in September year on year, up 0.1 percentage points from August, marking a three-month high, the National Bureau of Statistics said on Wednesday.
Food prices fell 1.7 per cent from a year earlier, while non-food prices rose 1.5 per cent. The core CPI, which excludes food and energy prices, rose 1 per cent year on year, the same pace as in August.
On a monthly basis, the CPI rose 0.2 per cent in September, slowing by 0.2 percentage points from August. The statistics bureau said beef and mutton prices continued to rise, while prices of mobile phones, computers, data storage devices and tablet computers also increased due to higher costs. Domestic petrol price increases slowed to 4.9 per cent.
The producer price index (PPI), which reflects upstream production costs, rose 5 per cent year on year in September, with the increase widening by 1.2 percentage points. Month on month, the PPI rose 1.2 per cent, also widening by 1.2 percentage points, mainly due to higher international crude oil and non-ferrous metal prices, as well as changes in supply and demand in some energy and raw material industries. The bureau added that demand in some industries was boosted by areas such as artificial intelligence.