Annual consumer price inflation in China has eased to 0.4% in September from 0.6% in August, the latest data by the National Bureau of Statistics of China showed.
It has been the lowest inflation rate since June, which underscored the need for further policy support measures by the government to tackle deflation risks.
Non-food costs fell 0.2% YoY in September after a 0.2% increase in August.
Cost of transport continued to drop, by 4.1% YoY, due to lower crude oil prices.
In addition, housing prices decreased 0.1% YoY in September amid Beijing efforts to further regulate the property market.
In the meantime, inflation slowed for:
– health (1.2% YoY from 1.3% YoY in August);
– education (0.6% YoY from 1.3% YoY in August).
Conversely, China’s food inflation accelerated at the fastest rate in 20 months in September, 3.3% YoY.
The Chinese Yuan was 0.19% weaker on the day against the US Dollar, with the USD/CNY currency pair last trading at 7.0798.
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