November 9 -- The growth in the consumer price index (CPI) in China hit a 5-month low of 5.5 percent in October, the third consecutive month of decline in the CPI growth rate, reports yicai.com, citing the National Bureau of Statistics (NBS).
The CPI in urban areas rose 5.4 percent, while rural areas recorded a 5.9 percent increase in prices.
According to the NBS, the carryover effect accounted for 1.5 percentage points of the CPI increase.
Food prices rose 11.9 percent year-on-year in October, contributing 3.62 percentage points to the rise in the CPI. Among the various food items, grain prices rose 11.6 percent, contributing 0.32 percentage point to CPI growth, while the prices of poultry and related products were up 26.1 percent, contributing 1.72 percentage points to the rise in the CPI.
Egg prices rose 12.6 percent year-on-year in October, contributing 0.11 percentage point to CPI growth, while seafood prices were up 12.4 percent, contributing 0.28 percentage point to the rise in the CPI.
The prices of fresh vegetables fell 6.8 percent year-on-year, lowering CPI growth by 0.2 percentage point, while the prices of fresh fruits were up 11.1 percent, contributing 0.19 percentage point to CPI growth.
Tobacco and wine prices increased 3.7 percent year-on-year, with wine prices up 8.7 percent. Apparel prices rose four percent year-on-year in October, while shoe prices increased 2.5 percent.
The prices of home appliances and maintenance services increased 3.5 percent from a year ago, of which the prices of durable goods rose one percent.
The prices of healthcare and personal products rose 3.5 percent year-on-year, of which the prices of Chinese medicines were up 13 percent, while that of western medicines fell 0.6 percent.
The prices of automobile fuel and automobile components increased 12.2 percent from a year ago, public transportation prices rose 1.9 percent, whlle the cost of telecommunications equipment fell 13.3 percent.
Residents had to deal with a 4.4 percent year-on-year rise in prices, of which water, electricity and energy prices rose 3.5 percent.
Food prices in October fell 0.2 percent from September, of which the price of eggs declined 3.8 percent.
Shares of Fujian Sannong Group (000732) were up 1.3 percent to trade at 6.23 yuan per share at 9:49 today.