China's CPI rose by 1.6%

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Monday, Oct 16 2017

China's CPI rose by 1.6%

China's consumer price index rose 1.6 percent in September from a year ago, meeting expectations, data from the National Bureau of Statistics showed on Monday. Meanwhile, the producer price index jumped 6.9 percent in September from a year ago, which topped expectations. This was spurred by a year-long drive in construction spending that includes government-led infrastructure investment. According to a Reuters poll, China's Consumer Price Index was forecast to rise 1.6 percent in September from a year ago. August CPI was 1.8 percent.

The Producer Price Index was predicted to have risen 6.3 percent in September from a year ago, steady from August, according to Reuters. The strong PPI print that points to higher factory gate prices may help markets outside of China as the East Asian economy continues to grow, translating into demand for raw materials, said Tony Boyadjian, Compass Global Market's senior vice president of foreign exchange.

More in this category: « Rightmove HPI increased by 1.1% Eurozone Trade Balance recorded a €16.1 bn surplus »

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