- Chinese inflation slowed in October to 0.1% on month from 0.8% in September and came in below consensus of 0.2%.
- On year, though, a rise in food prices helped CPI increase to an eight-month high of +3.2% from +3.1%, but the metric still undershot forecasts of +3.3% and was within the government's 2013 target of +3.5%. While China's leaders have recently warned about inflation and the central bank has been tightening, UBS economist Wang Tao doesn't believe rising prices are "going to be a serious threat anytime soon."
- China's producer price index dropped for the 20th month in a row, falling 1.5% vs -1.3% and -1.4%. The trend indicates softness in demand for raw materials and factory products, and suggests that China still very much has to contend with deflationary forces even as annual inflation rises.
- The growth in industrial production increased to 10.3% on year from 10.2% and exceeded forecasts of 10%.
- The rise in retail sales held steady at 13.3% but slightly missed predictions of 13.4%.
- As expected, urban investment grew 20.1%, down from 20.2% a month earlier.
- The data dump comes as Chinese leaders meet to discuss major economic reform.
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Chinese inflation slows on month, rises on year
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