According to data released by China’s National Bureau of Statistics on Monday, November 9, 2026, the Consumer Price Index (CPI), a key measure of inflation, increased by 0.7 per cent year-on-year in October, down from 0.9 per cent recorded in September.

The latest figure also came slightly below economists’ expectations of a 0.8 per cent increase, suggesting that consumer spending remains relatively weak.

Food prices were among the major factors weighing on inflation. Food prices dropped 2.9 per cent compared with the same period last year, while fresh vegetable prices fell 16.9 per cent and pork prices declined by 8.6 per cent.

Core inflation, which excludes food and energy prices, also slowed to 0.8 per cent from 1.0 per cent in September.

However, the picture was different for China’s industrial sector. The Producer Price Index (PPI), which measures prices manufacturers receive for their products, increased by 5.7 per cent year-on-year, accelerating from 5.0 per cent in September.

The increase was driven partly by higher global oil prices and rising costs of industrial materials, putting additional pressure on manufacturers.

Economists say the contrasting figures highlight an ongoing imbalance in China’s economy, where industrial costs are increasing while household demand remains subdued.

The weaker consumer inflation figures could add pressure on Chinese policymakers to introduce further measures to encourage spending, strengthen domestic demand and support economic growth.

China’s latest inflation data therefore point to a challenging economic situation, with rising production costs occurring alongside relatively weak consumer demand.