China's inflation rate steady in October amid signs of cooling economic growth

BEIJING, China – China’s consumer inflation rate was steady in October, government data showed Monday, amid signs of cooling economic growth.

The National Bureau of Statistics said that the consumer price rose 1.6 per cent in October from a year earlier, the same increase as in September.

Producer prices fell 2.2 per cent from a year earlier, extending a months-long decline.

The rise in consumer prices was well below the government’s target for the year of 3.5 per cent.

Trade and manufacturing have weakened recently, prompting suggestions Beijing might try to shore up economic growth.

But Chinese leaders so far have ruled out a major stimulus that might add to pressure for prices to rise.