China October inflation picks up to 2.1%, producer prices top expectations

Chinese citizens walk along a food street in Wangfujing district in Beijing, China on Nov 4, 2016.
Chinese citizens walk along a food street in Wangfujing district in Beijing, China on Nov 4, 2016. PHOTO: EPA

BEIJING (REUTERS) - China's October consumer inflation rate rose to 2.1 per cent from a year earlier, in line with market expectations, the statistics bureau said on Wednesday (Nov 9).

Producer prices rose a better-than-expected 1.2 per cent on-year, compared with the previous month's rise of 0.1 per cent, and the highest since December 2011.

Analysts polled by Reuters predicted the consumer price index (CPI) would rise 2.1 per cent, compared with 1.9 per cent posted the prior month. Producer prices had been expected to rise 0.8 per cent on-year.