China’s Consumer Price Index (CPI) rose by 0.2% in October compared to a year ago, reversing a decline of 0.3% recorded in September, according to the National Bureau of Statistics of China. Market consensus anticipated a flat reading for the reported period, but the actual data exceeded expectations.
On a monthly basis, Chinese CPI inflation increased by 0.2% in October, up from 0.1% in the previous month.
Meanwhile, China’s Producer Price Index (PPI) dropped 2.1% year-on-year in October, easing from a 2.3% fall in September. This result was slightly better than the market consensus, which had forecast a 2.2% decline.
**Market Reaction**
Following the release of China’s inflation data, the AUD/USD currency pair edged down 0.03% on the day, trading at 0.6496 at press time.
https://bitcoinethereumnews.com/finance/chinas-cpi-inflation-arrives-at-0-2-yoy-in-october-vs-0-expected/
