MNI DATA IMPACT: China Sept CPI hit 3% ceiling, PPI 3-yr low

     BEIJING (MNI) - China's inflation rose above trend and hit the 3% ceiling

in September, registering an almost six-year peak of 3% y/y. At the same time,

the data showed that factory-gate inflation fell further to the lowest level

since August 2016.

     Here are some points from the data released by the National Bureau of

Statistics:

     --The year-over-year CPI gain was mainly due to higher food prices, which

rose 11.2% y/y and contributed 2.21 percentage points to the growth.

     - The price of pork continued to accelerate, up by 69.3% y/y from August's

46.7% gain, which dragged CPI up by 1.65 percentage points.

     --CPI accelerated by 0.9% on a monthly basis, compared with August's 0.7%

growth, marking the fastest growth in the last seven months. 

     - PPI dipped further to -1.2% y/y from August's 0.8% drop, hitting a more

than three-year low.

     - PPI fell 0.1% on a monthly basis, compared with a 0.2% m/m decline in

August.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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