Inflation Growth in China Accelerated Last Month
Inflation in China, both manufacturing (PPI) and consumer (CPI), rose in October. Headline consumer price index accelerated to +1.9% yoy in October from +1.6% yoy in September. Economists on average predicted a less significant increase in the rate of inflation - up to 1.8%. Core consumer prices remained unchanged at +2.3%. The October increase in consumer prices in China was the strongest since January this year.
Meanwhile, producer prices (PPI) in China rose 6.9% in annual terms for the second consecutive month. Analysts had expected a weakening of growth to 6.6%.
China's trade surplus widened to US$ 38.2B in October from US$ 28.5B a month ago. Nevertheless, this was below the forecast of US$ 39.5B. The growth in exports slowed to +6.9% yoy, while imports decreased to +17.2% from +18.6% in September.