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China Consumer Prices Rise 3.1% as Factory-Gate Deflation Eases

Market in Shanghai
Vendors arrange vegetables at a market in Shanghai. Photographer: Tomohiro Ohsumi/Bloomberg

Oct. 14 (Bloomberg) -- China’s consumer prices rose more than estimated in September, while a decline in factory-gate prices eased, National Bureau of Statistics data released today in Beijing showed.

The consumer price index rose 3.1 percent from a year earlier, the bureau said. That exceeded the 2.8 percent median estimate of 44 analysts surveyed by Bloomberg News and compared with a 2.6 percent gain in August.

Producer prices fell 1.3 percent from a year earlier. The median projection of analysts was for a decline of 1.4 percent after a 1.6 percent drop the previous month.

Policy makers are seeking to keep the consumer inflation rate within about 3.5 percent this year. Premier Li Keqiang said last month that the nation is trying to keep economic growth within a “lower limit” to ensure job creation and an “upper limit” to avert inflation, as the government strives to ensure a rebound from a two-quarter slowdown.

To contact Bloomberg News staff for this story: Scott Lanman in Beijing at slanman@bloomberg.net

To contact the editor responsible for this story: Scott Lanman at slanman@bloomberg.net

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