📉 China: deflationary pressure persists – UOB Group China’s consumer price index (CPI) slowed to 0.3% year-on-year in October, below Bloomberg’s forecast of 0.4% and comparable to September’s 0.4%.

The core consumer price index, which excludes food and energy, showed a slight increase to 0.2% from 0.1% in September.

Inflation in the services sector increased to 0.4% in annual terms (September: 0.2%). However, consumer goods inflation, on the contrary, slowed to 0.2% in October, compared to 0.5% in September.

The consumer market continues to be a source of concern as the economy faces ongoing deflationary pressures.