Chinese producer prices fell in October for the first time in three years. The producer price index (PPI) fell 1.3 percent year-on-year after rising 0.9 percent the previous month, the National Bureau of Statistics (NBS) said. Analysts had expected a 1.5 percent decline in a Reuters poll. The decline in producer prices partly reflected last year’s sharp rises and falling commodity prices, the NBS said in a statement accompanying the data. The consumer price index (CPI) rose 2.1 percent year-on-year, down from a 29-month high of 2.8 percent in September, mainly due to falling food prices. The increase was less than the 2.4 percent forecast by analysts. The world’s second largest economy has slowed significantly in recent months, due to the strict zero-corona policy to contain the virus, which is still affecting supply chains and affecting production and consumption three years after the outbreak of the pandemic breaks through.
Stats – China’s producer prices fall – Economy
