BEIJING (Reuters) – China’s factory gate prices fell 1.6% in October from a year earlier, the steepest fall since July 2016, data from the National Bureau of Statistics showed on Saturday, as manufacturing continues to struggle with weak demand.

Analysts had expected factory gate prices to fall 1.5% year-on-year.

The producer price index (PPI), seen as a key barometer of corporate profitability, fell 1.2% year-on-year in September.

The consumer price index rose 3.8% in October from a year earlier, the fastest pace seen since January 2012, beating analysts’ expectations of 3.3%. It rose 3% in September.

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