National Bureau of Statistics: In October, food and energy prices remained low, but the year-on-year decline has narrowed

The National Bureau of Statistics stated that in October, food prices rose by 0.3% month-on-month, with a seasonal level decrease of 0.1 percentage points. During the holiday period, consumer demand increased, with price increases for fresh vegetables, lamb, fresh fruits, shrimp and crab, and beef ranging from 0.5% to 4.3%. Year-on-year, the price declines for pork, eggs, and fresh vegetables ranged from 7.3% to 16.0%, with the declines narrowing; the price increases for beef, lamb, and aquatic products ranged from 2.0% to 5.6%, with the increases expanding. Energy prices fell by 2.4% year-on-year, with gasoline prices decreasing by 5.5%, affecting the year-on-year CPI decline by approximately 0.18 percentage points