October CPI growth of 4.4% per cent to record New year

The National Bureau of Statistics November 11 released data shows that China's October CPI year-on-year growth of 4.4%, and then a new year high, but also following the September 2008 CPI 4.6% since the new record. The data show that October CPI was 0.7% Quarter-on-quarter, January-October CPI year-on-year increase of 3%, has reached the inflation target set at the beginning of the year.　　It is noteworthy that food prices rose by 10.1% in October. According to "The first financial chief economist monthly Survey", October CPI forecast mean 3.95%, median 4%.　　The survey was based on forecasts from the chief economist at 23 Financial institutions home and abroad. Zhang Ping, director of the National Development and Reform Commission, said in a recent "National Coal Work Conference" that this year's price index "is a little higher than 3."　　This is the first time the relevant officials of the National ministry said that prices will exceed 3% this year. To further curb liquidity, the People's Bank of China announced late yesterday that it would raise the renminbi deposit reserve ratio of deposit-taking financial institutions by 0.5% per cent from November 16.　　This is the fourth time that the reserve requirement rate has been raised in the year. The data released by the Bureau also showed that CPI rose 4.4% per cent year-on-year in October, up 0.8% from September.　　Among them, cities rose 4.2%, rural areas rose 4.7%, food prices rose 10.1%, Non-food prices rose 1.6%, consumer prices rose 5%, and service prices rose 2.5%. October, consumer prices rose by 0.7% per cent a quarter.　　Among them, cities rose 0.7%, rural areas rose 0.6%, food prices rose 1.1%, Non-food prices rose 0.4%, consumer prices rose 0.7%, and service prices rose 0.4%. From the PPI data, October, China's factory prices of manufactured goods (PPI) year-on-year growth of 5%, the chain growth of 0.7%. 1-October, PPI Rose 5.5%.　　Above the first financial research data, the survey showed that October PPI year-on-year growth average of 4.63%, the median of 4.5%. The October PPI increase was 0.7% per cent higher than in September. Classification does not look, the means of production prices rose 5.8%, of which the extractive industry rose 11.8%, the raw material industry rose 8.5%, the processing industries rose 3.8%; the means of subsistence factory price rose 2.6%, of which food class rose 5.3%, dress class Rose 1.8%, general daily-use category Rose 2.2%,　　The consumer durables category fell 0.7%.　　The chain of view 1-October, the factory price of industrial products rose 5.5%, the increase was equal to 1-September. The data also showed that raw materials, fuel and power purchase prices rose 8.1% per cent year-on-year in October, up 1% from September. Among them, the purchase price of non-ferrous materials rose 15.8%, fuel power class rose 8.9%, chemical raw material class rose 7.2%, black metal material class rose 9%. 1-October, raw materials, fuel, power purchase priceRose 9.6%.