Chinese inflation fell sharply in October to 5.5 per cent year-on-year, the lowest in five months, clearing the path for a slight easing in monetary policy to support growth.
It was the third straight month of slowing inflation and the biggest drop yet, down from a pace of 6.1 per cent in September. China’s consumer price inflation also weakened in month-on-month terms, up 0.1 per cent in October compared with September’s 0.5 per cent rise.
The deceleration in inflation was in line with analysts’ forecasts, but it still brought relief to investors, who pushed an index of Chinese stocks in Hong Kong up 3 per cent at the start of trading.
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