Government: Inflation rose by 3.1% in October. Pork prices have increased food prices significantly.

Financial News

Written by: Zhang Weilun

2019-11-21 18:20

The Census and Statistics Department announced that the consumer price index rose by 3.1% year-on-year in October this year, narrowing by 0.1 percentage points from the previous month's increase. Excluding all government one-off relief measures, the basic inflation rate was 3.1% in October, which was also lower than in September.

The Government pointed out that the inflation rate slowed down in October, which was related to the narrowing of private housing rents and fresh fruit prices.

The seasonally adjusted Composite Consumer Price Index, which rose by an average of 0.2% per month for the three months to the end of October; and the three-month increase at the end of September. Excluding all government one-off relief measures, the corresponding increase was 0.2%.

Class A consumer price index rose by 3.5%

The Government pointed out that from the breakdown of the index analysis, the CPI(A), CPI(B) and CPI(C) rose by 3.5%, 3.1% and 2.9% respectively in October this year, compared with 3.5% and 3.1% respectively in September. And 3%.

Excluding all the one-off relief measures of the Government, the CPI(A), CPI(B) and CPI(C) were up by 3.6%, 3% and 2.8% respectively in October this year, up by 3.6% in September this year. , 3% and 2.9%.

Among the various types of composite consumption index items, food (excluding out-of-home meals) increased by 13.3%, miscellaneous items increased by 3.4%, housing increased by 3.1%, and miscellaneous services rose by 2.6%.

As for electricity, gas and water, prices fell by 5.8%, clothing and footwear fell by 3.5%, and durable goods fell by 1.7%.

Government: Keep an eye on inflation

A government spokesman said that the basic consumer price inflation rate in October was 3.1%, a slight decrease from September. The price pressure on most of the major components of the consumer price index is generally moderate, but due to the high price of pork, food inflation is still significant.

Looking ahead, global inflation is moderate and economic conditions are poor, which should help curb overall inflation. However, due to the supply of fresh pork, the inflation rate may still be slightly higher in the short term. The Government will continue to closely monitor the inflation situation, especially for low-income people.

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