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China October inflation eases

 2015-11-10 05:32:06.0

nbslogo Beijing: �China's consumer price index (CPI), the main gauge of inflation, grew 1.3 percent year-on-year in October, the National Bureau of Statistics (NBS) said on Tuesday. The weaker-than-expected reading slowed from the 1.6-percent gain in September and 2-percent in August. On a monthly basis, consumer prices edged down 0.3 percent, reported Xinhua news agency.�NBS statistician Yu Qiumei attributed the slowdown to falling pork and vegetable prices due to ample supplies. Food prices, which account for nearly one-third of weighting in China's CPI, went down 1 percent from a month earlier. Meanwhile, China's producer price index (PPI), which measures wholesale inflation, plunged 5.9 percent year-on-year last month, marking the 44th straight month of decline that pointed to continuing weak market demand. (IANS)

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