Nov. 12, 2012 (China Knowledge) - China's consumer price index (CPI), the major gauge of inflation, has increased 1.7% YoY in October this year, according to statistics released by the National Bureau of Statistics (NBS)
The CPI growth last month was lower than the 1.9% increase in September.
The CPI in urban areas rose 1.8% YoY in October, while the CPI in rural areas increased 1.5% YoY, according to the statistics.
The NBS said food prices went up 1.8% YoY last month, driven by a 3.8% increase in grain prices, 4.7% increase in the prices of aquatic product, a 3.9% increase in the prices of fresh fruits and a 3.9% increase in edible oil. Meanwhile, the price of prices of meat, poultry and processed products saw widened declined of 4.7% YoY, with the price of pork dropping 15.8% YoY, which contributed a 0.6 percentage point decline to the overall CPI last month.
The prices of tobacco products, alcohol and related products climbed 2.0% YoY, mainly driven by a 4% increase in alcohol prices, while the prices of household appliances and maintenance services grew 1.5% from a year earlier.
The price of personal and health care products increased 1.8% YoY in October, while the price of clothing rose 2.7%, with a 3.0% increase in the price of garments and 1.7% increase in footwear.
There was an increase of 0.1% in the prices of transportation and communications, and an increase of 2.5% in housing costs that were driven by a 3.1% increase in housing rentals, 3.3% increase in the prices of water, electricity and fuels, and 0.3% increase in the prices of building and decoration materials.
In the first ten months, the country's CPI grew 2.7% YoY.