BEIJING, Oct. 16 -- China's inflation remained stable in September as consumer prices were stable and factory gate prices saw comfortably strong increases.
The consumer price index (CPI) retreated mildly, weighed down by dropping food prices, while growth in the producer price index (PPI) hit a six-month high on demand for commodities.
The CPI grew 1.6 percent year on year last month, slowing from August's 1.8 percent, but still faster than July's 1.4 percent, the National Bureau of Statistics (NBS) said Monday.
It was the eighth straight month for the main gauge to stay beneath the 2-percent mark. On a monthly basis, the index was up 0.5 percent, slightly higher than 0.4 percent seen in the previous month.
NBS statistician Sheng Guoqing attributed the milder inflation to food prices, which account for a significant part of the calculation. "Food prices declined 1.4 percent from a year ago, contributing 0.28 percentage points to the slowdown."
But the increase in non-food prices picked up. Led by services including heath care and home rents, the price growth quickened marginally to 2.4 percent year on year.
In contrast, PPI, which measures costs for goods at the factory gate, was up by a 6.9 percent year on year in September, accelerating from 6.3 percent in August and the fastest growth since April.
The producer inflation was mainly driven by price rises in commodities including ferrous and non-ferrous metals and coal. On a month-on-month basis, the index was up 1 percent.
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