How worried should we be about CPI & economic growth figure in China?
Official data released on Saturday show that the country's consumer price index, a main gauge of inflation, rose 3.8 percent in October. That was the highest so far this year, up from 3 percent in September. A major driving force of the increase was food prices, which grew more than 15 percent, compared with around 11 percent in September. Non-food prices gained just below 1 percent, a slight drop from September.
The increase in pork prices more than doubled compared with the same period last year, due to an outbreak of African swine fever earlier this year. Vegetable prices saw a 10-percent drop from a year ago. October's inflation was the highest this year.
China recently released its economic growth figure for the third quarter, which was 6 percent, the lowest in nearly 30 years.
So how worried should we be about these numbers? Professor John Gong from the University of International Business and Economics gives his opinion.