10月中国物价数据快报

Inflation Data - China's CPI in October increased by 0.3% year-on-year, lower than the Wind consensus expectation and previous value of 0.4%[1] - The CPI decreased by 0.3% month-on-month, with a slight expansion in the decline compared to the previous month[1] - The PPI fell by 2.9% year-on-year, also below the Wind consensus and previous value of -2.8%[1] - The PPI decreased by 0.1% month-on-month, a significant narrowing from the previous decline of 0.6%[1] Core Inflation Insights - The core CPI rose by 0.2% year-on-year, an increase of 0.1 percentage points from the previous month[1] - The year-on-year change in CPI was influenced by a tail effect of approximately -0.4 percentage points, compared to -0.5 percentage points last month[1] - The new price change impact for this year was about 0.7 percentage points, down from 0.9 percentage points last month[1] Sector-Specific Trends - Food inflation decreased significantly, with prices for pork, fresh vegetables, fruits, and eggs showing varying degrees of decline due to improved supply conditions[1] - The PPI's year-on-year decline was supported by a narrowing drop in prices for coal, black metals, and building materials[1] - The increase in accommodation and travel-related CPI during the National Day holiday contributed to a slight improvement in core CPI[1]