China inflation rises again as price index hits 25-month high
11 November 2010 05:23 [Source: ICIS news]
GUANGZHOU (ICIS)--Inflation in
On a year-on-year basis, China’s consumer price index (CPI) increased by 4.4% in October, while its producer price index (PPI) rose by 5%, data from the National Bureau of Statistics (NBS) showed. The October CPI was a 25-month high.
The Chinese central bank announced late on Wednesday that it would raise the bank reserve ratio by half a percentage point in its latest move to curb accelerating inflation.
In October, the country’s industrial output grew by 13.1% year on year, but the growth was down by 0.2 percentage points from September. Total retail sales increased by 18.6% year on year, but the growth was down by 0.2 percentage points compared with September, NBS data showed.
Fixed-asset investments jumped 24.4% year on year during the January-October period, 0.1 percentage points lower than in the first nine months of 2010, the NBS said.
Analysts said that the deceleration in investments and exports was the result of governmental controls that focus more on “growth quality” than “growth rate”.
“October’s CPI exceeded the market expectation of 4% and inflation would extend throughout this year,” said Qiu Ziyuan, chief analyst at Shenzhen-based broker China Merchants Securities (CMS). “The government may hike interest rates again later this year on inflation concerns.”
To discuss issues facing the chemical industry go to ICIS connect
By: Fanny Zhang
+65 6780 4359
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
| ICIS news FREE TRIAL |
| Get access to breaking chemical news as it happens. |
| ICIS Global Petrochemical Index (IPEX) |
| ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index |
Related Articles
- 18 Jan 11 17:46 INSIGHT: China’s push for domestic consumption worries chem players
- 29 Apr 11 13:06 INSIGHT: China’s inflation problems take root as wages increase
- 15 Feb 11 06:18 China's CPI rises 4.9% in January, PPI up 6.6%
- 08 Feb 11 12:57 Corrected: China raises bank rates 25 basis points as New Year holiday ends
- 28 Jan 11 00:00 China's crude oil imports expected to grow by 11% this year
- 20 Jan 11 03:09 China on second year of lending cuts, borrowing costs to rise
- 10 Nov 10 10:15 China refiners cut base oils output to boost diesel production
- 11 Nov 10 09:20 Iran’s Zagros Petrochemical plans methanol plant turnaround
- 11 Nov 10 08:02 Iran’s Kharg Petrochemical ramps up methanol plant operations
- 11 Nov 10 04:19 Asia polystyrene margins shrinking amid buoyant feedstock
- 11 Nov 10 04:01 NOON SNAPSHOT - Asia Markets Summary
- 10 Nov 10 20:23 INSIGHT: PE bucks a trend globally as buyers go with the flow
- 10 Nov 10 04:32 China October exports jump 22.9%, imports grow 25.3%
Latest News
- 20 Jun 13 13:19 Political and scientific factors contributing to biofuels uncertainty
- 20 Jun 13 13:17 Cost of production 8-10% higher in India in 2013: polymer end users
- 20 Jun 13 13:01 Biofuels not to blame for 'land-grabbing': company owner
- 20 Jun 13 13:00 VIDEO: ICIS Europe Lunchtime Bulletin 20 June 2013
- 20 Jun 13 12:59 Evonik begins phthalate-free plasticizer production in Marl, Germany