In September, China’s inflation as measured by the consumer price index rose as expected by 2.8%, picking up the pace from the previous + 2.5% and advancing at its strongest pace since April. 2020.
On a monthly basis, the increase was 0.3%, lower than the expected + 0.4%, but in strong recovery compared to the previous -0.1%.
Food prices have soared 8.8% on an annual basis, while non-food inflation has advanced by 1.5%.
Inflation measured by the producer price index is also widespread today, rising by 0.9% on an annual basis, slightly below the estimated + 1% and slowing down compared to the previous increase of 2.3%.
On a monthly basis, the trend was a decline of 0.1%.
It must be said that although CPI inflation is high, it remains in the range of the target that the People’s Bank of China has set.
The central bank of China therefore has room to launch new accommodative monetary measures.