Inflation data from China doesn't dispel any of the fears of deflation. CPI fell m/m, by a tiny 0.1% admittedly. Still while many consumers across the world grapple with 'cost of living' worries Chinese consumers won't be complaining. The low inflation rate means authorities will not have to factor in rising prices to their considerations.
The PPI m/m is 0%.
China's National Bureau of Statistics (NBS) says declining inflation during the month was mainly caused by softening food prices,
- food prices -4.0% in October
- contributing around -0.75% to the headline drop
