China’s inflation rate slowed in September, official data showed on Monday, potentially giving the government further room to stimulate the economy to boost slumping growth.
The country’s consumer price index rose 1.9 percent year-on-year, the National Bureau of Statistics (NBS) said. Inflation had stood at 2.0 percent in August.
The result matched a median forecast of 1.9 percent in a survey of 12 economists by Dow Jones Newswires.
Producer prices — which measure the costs of goods as they leave factories — declined 3.6 percent year-on-year, falling for the seventh straight month, NBS data showed. Producer prices fell 3.5 percent in August.
China’s economy grew 7.6 percent in the second quarter through the end of June for its weakest performance in three years and the sixth straight quarter of slowing expansion.
Authorities have taken steps to boost growth by cutting interest rates twice in quick succession this year and reducing the amount of funds banks must keep in reserve to boost lending three times since December.
China is scheduled to announce third-quarter economic growth figures on Thursday.
China says inflation slows to 1.9% in September
