Business

China’s September CPI rose at the fastest rate since April 2020 According to Reuters



© Reuters. FILE PHOTO: People wearing face masks shop at a market, monitoring new cases of coronavirus disease (COVID-19) in the country, in Beijing, China January 11, 2021. REUTERS / Tingshu Wang

BEIJING (Reuters) – China’s consumer prices rose in September at their fastest pace since April 2020, largely driven by food prices, limiting scope for more central bank easing. to support a slowing economy hit by COVID-19 restrictions and a slump in the real estate sector.

The consumer price index (CPI) rose 2.8% from a year earlier, faster than the 2.5% gain in August, National Bureau of Statistics (NBS) data showed on Wednesday. Six, in line with forecasts in a Reuters poll of analysts.

The producer price index (PPI) increased 0.9% year-on-year from 2.3% a month earlier and compared with a forecast of 1.0%.

The world’s second-largest economy barely grew in the June quarter and has struggled to regain traction amid prolonged pandemic restrictions, a severe property market slump and exports. reduce.

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