China's annual inflation rate was recorded at 1.6 percent in October, unchanged from the previous month. The politically sensitive food prices accelerated to 2.5 percent while non-food cost rose at a slower 1.2 percent.
Among food prices, the highest increases came from egg (+16.4 percent in October from +12.9 percent increase in September) and fresh fruits (+15.2 percent from +16.7 percent). Cost of fresh vegetables (-7.2 percent from -9.4 percent) and pork (-3.1 percent from -2.9 percent) dropped further.
For non-food categories, prices were stable for clothing (+2.4 percent) and transportation and communication (-0.3 percent). Higher cost were seen for household equipment and maintenance services (+1.2 percent from +1.1 percent) and health care and personal products (+1.3 percent from +1.2 percent). Price decreases were reported for entertainment and educational products and services (+1.1 percent from +1.9 percent) and tourism (-2.3 percent in October from + 3.2 percent in September).
For 2014, the government has set inflation target at around 3.5 percent.
Month-on-month, consumer prices remained unchanged, compared to a 0.5 percent increase in the preceding month.
Producer prices index declined by 2.2 percent from a year earlier, compared with a 1.8 percent drop in September. The index has been in a negative territory since March of 2012.
11/10/2014 9:19:28 AM