BEIJING: China’s consumer prices rose moderately in September. Experts say that market demand is set to rise following the introduction of powerful new policies aimed at stimulating the economy.
The Consumer Price Index (CPI), a key measure of inflation for consumers, rose 0.4 percent year on year and remained flat month over month in September, data from the National Bureau of Statistics (NBS) showed on Sunday.
This follows a slight increase in August, suggesting a trend of moderate price levels for household goods.
Fresh vegetables and pork prices jumped due to weather disruptions, while the end of summer vacation led to a decrease in travel, causing airfares and hotel prices to drop.
The Producer Price Index (PPI), which tracks inflation at the wholesale level, saw a decrease of 2.8 percent in September compared to the previous year. This decline is likely due to falling global commodity prices and slowing domestic demand, according to Dong Lijuan, chief statistician at the NBS.
The month-to-month decline of the PPI in September narrowed by 0.1 percentage point compared with that of the previous month.
Dong said that the real estate sector is still in an adjustment period, coupled with severe weather in some regions, leading to overall weak demand for building materials. –The Daily Mail-CGTN news exchange item
