China’s economy edged back into deflation last month, spurred by falling pork prices, as policymakers struggled to reignite domestic demand in the midst of a rolling property sector crisis and following the end of strict pandemic controls early this year.
The consumer price index fell 0.2 per cent in October year on year, data from the National Bureau of Statistics showed on Thursday, compared with a 0.1 per cent fall forecast by a Reuters poll of analysts. The CPI was unchanged in September.
Producer prices fell for a 13th consecutive month, dropping 2.6 per cent year on year, against a 2.7 per cent decline forecast by economists, and following a 2.5 per cent contraction in September.
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