BEIJING, Nov 9 (Reuters) – China’s producer prices rose further in October while consumer inflation cooled, reflecting persistent cost pressures from higher oil prices despite weak domestic demand.
The producer price index climbed to 5.7% last month from a year earlier, compared with a 5.0% increase in September, beating economists’ forecasts for a 5.3% gain in a Reuters poll, data from the National Bureau of Statistics showed on Monday.
Consumer inflation, as measured by the consumer price index (CPI), stood at 0.7% year-on-year, versus a 0.9% rise in September, below economists’ expectations for a 0.8% increase.
On a monthly basis, the CPI matched forecasts for an unchanged outcome after edging up 0.2% in September.
(Reporting by Qiaoyi Li and Ryan Woo; Editing by Thomas Derpinghaus)
