The inflation slowed again in October in China, a sign that demand in the world’s second-largest economy remains sluggish, according to official data released Saturday.
The consumer price index (CPI), a key inflation measure, stood at 0.3% year-on-year in October, from 0.4% recorded in September, reported the National Statistics Office (ONE).
The figure for the tenth month of the year is less than the 0.4% expected by economists consulted by the financial agency Bloomberg.
This slowdown occurs at a time when the Asian giant’s authorities are trying boost the national economywhile the real estate crisis weighs on confidence.
The data was released after Chinese lawmakers on Friday unveiled a sweeping plan to raise local government debt and boost spending.
While several major Western economies have been struggling with the threat of high inflation, China has instead sought to avoid another price crash.
At the end of 2023, the country plunged into deflation for four months, with the biggest contraction in consumer prices in 14 years in January.
