Consumer inflation in China picked up unexpectedly last month as pork price falls eased and fuel costs rose at a quicker clip, while a recent run of acceleration for producer price growth appeared to lose some of its steam.
China’s official consumer price index, published by the National Bureau of Statistics, rose 1.9 per cent in October, up from 1.6 per cent a month prior and besting a median forecast of 1.8 per cent from economists polled by Reuters. The reading was the highest since January.
Growth in transportation fuel costs climbed 7.5 per cent year on year in October as crude oil prices mounted a global recovery, up from a climb of 5.1 per cent in September. They are up 9.9 per cent for the year to date.
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