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ECONOMY STAYS ON TARGET China’s consumer inflation edged higher in October,with the Consumer Price Index(CPI)rising 3.2 percent year on year,its fastest pace in eight months(see Chart 1).The latest reading held within manageable levels,giving policy makers room to focus on maintaining steady growth.The rise was largely due to mounting food prices,with vegetables jumping 31.5 percent.While consumer price inflation is likely to exceed 3 percent in the remaining two months of the year,full-year inflation is expected to come in at around 2.7 percent,well below the government’s target of 3.5 percent.Meanwhile,the Producer Price Index(PPI)fell 1.5 percent,after moderating to a fall of 1.3 percent in September(see Chart 2).October marked the20th month in a row of falling factory prices,pointing to weakness in demand for raw materials and components from China’s factories.
ECONOMY STAYS ON TARGET China’s consumer inflation edged higher in October, with the Consumer Price Index (CPI) rising 3.2 percent year on year, its fastest pace in eight months (see Chart 1). The latest reading held within manageable levels, giving policy makers makers room to focus on sustain steady growth. the rise was largely due to mounting food prices, with vegetables jumping 31.5 percent.While consumer price inflation is likely to exceed 3 percent in the remaining two months of the year, full-year inflation is expected to come in at around 2.7 percent, well below the government’s target of 3.5 percent.Meanwhile, the Producer Price Index (PPI) fell 1.5 percent, after moderating to a fall of 1.3 percent in September (see Chart 2) .October marked the 20th month in a row of falling factory prices, pointing to weakness in demand for raw materials and components from China’s factories.