China’s consumer prices continues to grow at its slowest rate since January 2010, adding to signs of a cooling economy.
CPI rose 1.6 percent year-on-year in October. Monday’s data matched earlier forecasts and was the same as in September. Consumer price growth, so far this year, have been well below the government’s official target of 3.5-percent.
Meanwhile, producer prices continue to fall, down 2.2-percent on an annual basis, the weakest reading in 6-months and a 32nd consecutive month of decline. A slumping property market and persistent overcapacity in several industries remain a headache for the country’s producers and factories.