China's inflation eases
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China's inflation eases

Last Updated: Monday, October 15, 2012, 14:08
 
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China's inflation eases
Beijing: China's Consumer Price Index (CPI), the main gauge of inflation, grew 1.9 percent year on year in September, authorities announced Monday.

The inflation eased from 2 percent, which was registered in August, reported Xinhua.

On a month-on-month basis, September's CPI grew 0.3 percent from the previous month, according to the National Bureau of Statistics (NBS) data.

Food prices, which account for nearly one-third of the weightage in the calculation of China's CPI, rose 2.5 percent last month from one year earlier. This was down from the 3.4-percent year-on-year increase in August.

China's Producer Price Index (PPI), which measures inflation at wholesale level, dropped 3.6 percent year-on-year in September. It marked the seventh straight month of decline after the PPI dropped in March for the first time since December 2009.

In the first nine months, the CPI grew 2.8 percent year-on-year on average, which further declined from the 3.3-percent rise in the first half of the year.

Xu Lianzhong, a senior official, predicted that the CPI was not likely to see a significant rebound in the remainder of the year.

Analysts also said that the country is poised to meet its target of keeping inflation under 4 percent for the full year.


IANS



First Published: Monday, October 15, 2012, 12:44


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