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China inflation rises in September
October 14, 2013, 8:57 am


Food prices rose 6.1 per cent from a year ago last month [Xinhua]

Inflation in China rose sharply in September mainly due to an increase in food prices, says the nation’s statistics agency.

The consumer price index (CPI), a main gauge of inflation, rose 3.1 per cent year on year last month, up from 2.6 per cent in August, according to the National Bureau of Statistics (NBS).

In the first nine months of the year, CPI growth stood at 2.5 per cent on average, well below the government’s full-year target of 3.5 per cent.

Yu Qiumei, a Senior Statistician at the NBS attributed the rise last month mainly to a rebound in food prices due to the holiday effect, as well as droughts and floods in some regions.

Food prices account for about one-third of the CPI calculation.

Food prices rose 6.1 per cent from a year ago in September and the prices of non-food products, including clothing, home appliances and daily necessities increased 1.6 per cent.

“Floods in the north, high temperature in the south, as well as typhoons have affected the supply of vegetables and fruits,” said Niu Li, an expert with the State Information Centre (SIC).

Vegetable and fruit prices surged 18.9 per cent and 12.5 per cent year on year, respectively, NBS data showed.

Experts have said that CPI growth of three to 3.5 per cent should be expected in the following three months.

China’s economy expanded 7.5 per cent in the second quarter.

Source: Agencies