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MNI BRIEF:China's Inflation Moderate, Monetary Policy Flexible

SINGAPORE (MNI)

PBOC Governor Yi Gang made the comments to a G-20 meeting.

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Inflation in China is generally moderate, and the People's Bank of China will keep the prudent monetary policy flexible, targeted, reasonable and appropriate, so to support high-quality economic development, said PBOC Governor Yi Gang during a video conference with G20 finance ministers and central bank governors, according to a statement on the PBOC website.

China's CPI eased to 0.7% y/y in September, edging down from August's 0.8%, but PPI soared to 10.7% y/y, hitting the highest level since November 1995.