The Chinese government reported during the weekend that headline inflation rose to an 8-month high of +3.2% in October as driven by surge in food costs. Food prices accelerated to +6.5% y/y in October, up from September’s 6.1%, while non-food CPI climbed +1.6% y/y. The reading, while higher than September’s +3.1%, remained below the official target of +3.5% for this year.
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Chinese CPI and IP Improved in October ahead of Conclusion of Third Plenum
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