China’s inflation up 1.6 pct in October

BEIJING, Nov. 10 (NsNewsWire) — China’s consumer price index (CPI), a main gauge of inflation, grew 1.6 percent year on year in October, the National Bureau of Statistics (NBS) said Monday.

The inflation index was in line with the consensus projection, and was the same as that of September, which was the lowest since January 2010, reports Xinhua.

On a monthly basis, October’s consumer price index (CPI) was flat against the previous month, compared with September’s 0.5-percent increase, the NBS said in a statement on its website.

For the first 10 months, inflation grew 2.1 percent year on year, well below the 3.5-percent full-year target set by the government.

Yu Qiumei, a senior NBS statistician, said higher food prices were the main contributor to CPI growth last month.