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China Sept. Consumer Prices Rise 1.9% Vs 1.9% Economists’ Est.

China Sept. Consumer Prices Rise 1.9% Vs 1.9% Economists’ Est.
A worker slices cooked meat outside a restaurant in Beijing. Gains in consumer prices have moderated from a three-year high of 6.5 percent in July 2011 as food and fuel costs eased. Photographer: Nelson Ching/Bloomberg

Oct. 15 (Bloomberg) -- China’s consumer prices rose 1.9 percent in September from a year earlier while the producer-price index dropped 3.6 percent, the National Bureau of Statistics said today.

Inflation compares with the 1.9 percent median estimate in a Bloomberg News survey of 34 analysts and a 2 percent gain in August. Analysts forecast a 3.5 percent decline in producer prices.

Gains in consumer prices have moderated from a three-year high of 6.5 percent in July 2011 as food and fuel costs eased. People’s Bank of China Deputy Governor Yi Gang said yesterday that while this year’s inflation rate is “fine” and may be 2.7 percent for the full year, longer-term threats are from agricultural costs and prices for imported raw materials, commodities and energy, which can be driven up by global monetary easing.

Premier Wen Jiabao pledged in March to hold consumer-price increases to about 4 percent this year. The inflation rate has been below that target for eight months. Producer prices declined for the seventh straight month.

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To contact the editor responsible for this story: Nerys Avery at navery2@bloomberg.net

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