9 November 2025 | 11:37AM HKT Economics Research China: Year-over-year CPI inflation turned positive in October, surprised to the upside Bottom line: China's headline CPI inflation rose to +0.2% yoy in October from -0.3% yoy in September, as food deflation narrowed and non-food prices rose in year-over-year terms. The broad-based price increases likely reflect seasonal demand around the Golden Week, but its durability remains to be seen. Headline PPI inflation edged up to -2.1% yoy in October from -2.3% yoy ...

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