China's wholesale prices up 6.6 per cent in October according to new data

BEIJING — China's wholesale inflation rate eased in October to 6.6 per cent following a drop in prices of oil, steel and other raw materials, according to new data.
The decline in producer price inflation from September's 9.1 per cent rate suggested October consumer inflation due out later this week also would ease.
Beijing has spent a year trying to rein in sharp increases in food and other consumer goods.
Producer price inflation, which measures the cost of goods as they leave the factory, hit a 12-year high of 10.1 per cent in August.

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