By  on November 9, 2012

SHANGHAI — China’s consumer price index, which is the main gauge of inflation, grew at 1.7 percent in October from a year earlier, which marks the lowest expansion rate in nearly three years, according to data released today by the country’s statistics bureau.

In September, the inflation rate was 1.9 percent year-on-year and in August it was 2 percent compared to the same month the year before.

HSBC economists said October’s CPI beat market expectations and that the deceleration was due mainly to falling food prices in the country. Food prices rose 1.8 percent last month, down from 2.5 percent in September.

 

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