China's inflation rate steady in October amid signs of cooling economic growth

Economic Indicators Associated Press

China's consumer inflation rate was steady in October amid signs of cooling economic growth.

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The National Bureau of Statistics said Monday the consumer price rose 1.6 percent in October from a year earlier, the same increase as in September.

Producer prices fell 2.2 percent from a year earlier, extending a months-long decline.

The rise in consumer prices was well below the government's target for the year of 3.5 percent.

Trade and manufacturing have weakened recently, prompting suggestions Beijing might try to shore up economic growth.

But Chinese leaders so far have ruled out a major stimulus that might add to pressure for prices to rise.