The National Bureau of Statistics released on Nov. 11 that the consumer price index rose 4 percent in October and 6.7 percent over the 10 months of the year respectively, compared with the same period of last year. Further decrease is expected in the fourth quarter.
That means the downward movement of CPI for six months in a row since May. The CPI for October is 0.3 percent lower than that in September.
The price hikes for food are the main factor driving the index up. Food prices surged 8.5 percent in October and 16.3 percent over the first ten months year on year. However, the increase in October is 1.2 percentage points lower than that in September. Pork prices went down by 1.2 percent, compared with an increase of 2.6 percent last month.
NBS chief economist Yao Jingyuan said that the macro-control policy reining the price surge had made substantial results and the CPI for the fourth quarter would be down further.
By People's Daily Online
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