Lowest Inflation Rate in China in 11 Years

Lowest Inflation Rate in China in 11 Years The lowest inflation rate in 11 years was recorded in China. The consumer price index in the country increased by 0.5 percent in October compared to the same period of 2019. Accordingly, consumer prices in the country increased the slowest in the last 11 years. The National Bureau of Statistics in China shared consumer price index data for October. According to these data, the index slowed more than 1 percent in October for the first time in three years with the decline in pork prices, one of the key products in the country's inflation basket. The consumer price index increased by 0.5 percent in the previous month compared to the same period of the previous year, the slowest increase since 2009. The median expectation of economists who participated in the Bloomberg survey was for a 0.8 percent increase in the index. The decrease in the producer price index continued in China. The index fell 2.1 percent on an annual basis. The median expectation was that it would drop by 1.9 percent. The level of core inflation adjusted for volatile food and energy prices remained unchanged in September and the index increased by 0.5 percent. Pork, the main consumer item in the country's inflation basket, fell 2.8 percent for the first time since the decline in February last year. Due to the African swine fever disease experienced in 2019, pork prices rose sharply.