China CPI Rises 0.2% In October, Driven By Golden Week Gains

Benzinga

China’s consumer prices rose slightly in October, lifted by Golden Week spending on travel and food, but economists warn the rebound may be temporary as the country continues to struggle with persistent deflationary pressures.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:03China's consumer prices rose in October due to holiday-driven demand for travel,

00:07food, and transport, though economists expect the boost to be temporary, according to Bloomberg.

00:12China's consumer price index rose 0.2% in October, beating expectations of a 0.1% decline,

00:20while core inflation excluding food and energy increased 1.2%.

00:24Goldman Sachs economists said China's price increases likely stemmed from temporary golden

00:29week demand, with their persistence still uncertain.

00:32China has been battling deflation, with price declines in August and September,

00:36and its GDP deflator falling for over two years, the longest stretch since 1993.

00:41For all things money, visit Benzinga.com.

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