China Inflation October 2017

China

China: Inflation hits nine-month high in October

November 9, 2017

In October, consumer prices rose 0.1% from the previous month, down from September’s 0.5% increase. The moderation in prices reflected lower prices for education, culture and recreation.

Inflation rose from September’s 1.6% to 1.9% in October. The print beat the 1.8% that market analysts had expected and the highest rate since January. Annual average inflation, meanwhile, steadied at 1.6% in October.

Producer inflation was stable at September’s 6.9% in October, overshooting market analysts’ expectations of 6.6%. Annual average producer inflation rose from September’s 5.7% to 6.2% in October, marking the highest reading since December 2011.

FocusEconomics Consensus Forecast participants expect that consumer inflation will average 2.2% in 2018, which is up 0.1 percentage points from last month’s estimate. In 2019, the panel sees consumer inflation at 2.3%. Meanwhile, the panel expects producer inflation to be 1.0% in 2018, which is up 0.2 percentage points from last month’s projection. In 2019, panelists also see producer inflation at 1.1%.


Author: Ricard Torné, Lead Economist

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