China's consumer price index (CPI), a main gauge of inflation, rose mildly by 0.3 percent year on year in the first nine months of the year, the National Bureau of Statistics said Sunday.
The overall three-quarter increase of the index was higher than that of the same period last year, according to official data.
In the period, food prices dropped by 1.2 percent year on year, while nonfood prices went up 0.6 percent year on year.
Zhang Xuewu, director of the Analysis and Forecasting Department of Price Monitoring Center of the National Development and Reform Commission, attributed the CPI growth in the first three quarters mainly to price hikes of energy and services.
"In terms of energy prices, the international crude oil price has gone up and then down this year, with the average price in the first three quarters higher than that in the same period last year. This has led to the growth in domestic gasoline and diesel prices. The prices of catering, tourism and household services have increased to varying degrees as domestic demands pick up, driving the overall growth in services prices. Food prices continued to drop in the first half of the year due to ample supply and smooth links between production and sales. Since the beginning of the third quarter, food prices have gradually reversed the downturn, but the overall trend of the first three quarters is still negative," Zhang said.
In September, China's CPI remained flat month on month and rose by 0.4 percent year on year, which is slightly lower than the growth rate in August.
Experts said that with existing policies continuing to produce effect and new policies being rolled out at a faster pace, China's economic recovery is expected to gain stronger momentum in the last quarter of the year.
China's CPI rises mildly in first three quarters
