In the latest stimulus measures, the highest legislative body in… China On Friday, a package worth 10 trillion yuan ($1.4 trillion) was announced to ease the burdens of “hidden debts” of local governments, instead of pumping money directly into the world’s second-largest economy as some investors had hoped.
Analysts say the package will likely do little to boost economic activity, demand and prices in the near term.
Data from the National Bureau of Statistics showed that the consumer price index rose 0.3 percent on an annual basis last month from 0.4 percent in September, recording the lowest level since June, which is less than the increase that economists expected in a Reuters poll that the index would rise by 0.4 percent.
However, core inflation, which excludes volatile food and fuel prices, rose 0.2 percent in October, accelerating from 0.1 percent in September.
On a monthly basis, China’s consumer price index fell 0.3 percent after remaining unchanged in September, and the decline last month contradicted expectations of a 0.1 percent decline.
Producer prices fell 2.9 percent year-on-year in October, compared to 2.8 percent in the previous month, and were expected to decline by 2.5 percent. This represents the largest decline in 11 months.
