China wholesale inflation hits highest in more than four years as consumer measure slows
The PPI for October came in at 5.7%, compared to the 5.3% expected by economists polled by Reuters.
In October, China's Consumer Price Index (CPI) rose by 0.7% compared to a year ago, down from 0.9% in September, according to the National Bureau of Statistics of China. The market had anticipated a 0.8% increase. However, China's CPI inflation remained steady at 0% month-over-month, matching expectations. Conversely, China's Producer Price Index (PPI) increased by 5.7% year-over-year in October, surpassing expectations of a 5.3% rise.
Despite these mixed economic indicators, the Australian Dollar (AUD) remained resilient, trading 0.36% higher against the US Dollar (USD) at 0.6888. Factors influencing the AUD include Australia's interest rates set by the Reserve Bank of Australia (RBA), the price of key exports like iron ore, the health of China's economy, Australia's growth rate, and the Trade Balance.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Breaking: China’s CPI inflation eases to 0.7% YoY in October, vs. 0.8% expected fxstreet.com
- China CPI inflation misses forecasts in Oct; factory-gate prices accelerate investing.com
- China’s inflation edges lower in October ft.com
- China wholesale inflation hits highest in more than four years as consumer measure slows cnbc.com
