US government data showed on Tuesday that China’s consumption and production inflation index rose in September. China’s consuming price index in September rose by 2.5% year-on-year and 0.7 percentage points higher than that in August.
However, the production price index reduced for the third consecutive month in September, suggesting that economic growth has slowed due to escalating trade tensions with the United States.
In the trade war with the United States, China, the world’s second-largest economy, its inflation situation is closely concerned. The United States has already affected the new business of China, the Asian manufacturing giant.
The National Bureau of Statistics of China pointed out that the production price index in September rose by 3.6% compared with the same period of last year and by 4.1% compared with August. A poll by Reuters showed that analysts expected the PPI (Producer Price Index) of China in September rose by 3.5% compared with the same period of last year, and rose by 0.6% compared with last month.
It is widely hoped that the People’s Bank of China will adjust its monetary policy to curb slow economic growth. China’s official GDP growth target for this year is around 6.5%.