Market news
16.10.2020, 12:58

China: Inflation now seen rising at a slower pace in 2020 - UOB

FXStreet reports that UOB Group’s Economist Ho Woei Chen, CFA, reviewed the latest inflation figures in the Chinese economy.

“China’s inflation continued to moderate in September on the back of easing food prices. The Consumer Price Index (CPI) rose 1.7% y/y... Food price inflation eased to 7.9% y/y from 11.2% y/y in August while core inflation (excluding food and energy) was unchanged for the third consecutive month at 0.5% y/y. The higher base of comparison is expected to drive headline inflation down further in 4Q with full-year averaging around 3.0% compared to 3.3% y/y in the first nine months.”

“Producer Price Index (PPI) fell at a marginally larger pace of -2.1% y/y... Headline PPI deflation is likely to continue for the rest of the year but may narrow with firming global demand and commodity prices.”

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