© Archyde.com. Inflation in China is at its highest level since April 2020
Arabictrader.com – Data from the National Statistics Office in China on Friday morning showed that the consumer price index during the month of September recorded its highest reading since April 2020, reaching 2.8%, in full accordance with market expectations, while it reached 0.3%, which is less than expectations Markets of 0.4%.
On the other hand, the producer price index in China recorded during the same period 2.3% on an annual basis, its lowest level since March 2021, and its reading was less than the market expectations of 1.0%, and the index recorded a contraction of 0.1% on a monthly basis.
The main reason for the significant rise in the inflation rate in China was the sharp rise in food prices, as China witnessed an increase in food prices by 8.8% during September compared to the same month in the previous year, while China recorded a 1.5% increase in the prices of non-food commodities.
