Investing.com - The annual rate of inflation in China slowed more than expected in October according to data released on Tuesday, adding to concerns over a slowdown in the world’s second-largest economy.
The National Bureau of Statistics said the consumer price index rose just 1.3% in October from a year earlier, slowing from 1.6% in September. Economists’ expected a 1.5% increase.
Consumer prices fell 0.3% from a month earlier, after a 0.1% increase in September.
The producer price index fell 5.9% in October on a year-over-year basis, matching Septembers decline and slightly worse than economists’ forecasts of a 5.8% drop.
The weak data added to concerns over growing deflationary pressures, fueling expectations that Beijing will step up measures to bolster the faltering economy before the years end.
The report came after trade data on Sunday showing that Chinese exports fell 6.9% last month, while imports tumbled 18.8%.