Chinese inflation eases, leaves room for stimulus
BEIJING (AP) — China's inflation eased in October, leaving room for Beijing to stimulate its slowing economy if necessary.
Data released Tuesday showed consumer prices rose 1.3 percent over a year earlier, down from September's 1.6 percent. The rise was driven mostly by a 1.9 percent increase in food costs.
Lower inflation leaves room for Beijing to cut interest rates or take other steps to stimulate its cooling economy after growth weakened to a six-year low of 6.9 percent in the latest quarter.
October was unexpectedly weak, raising expectations Beijing might face more pressure to shore up growth, though Chinese leaders have said they want to avoid an across-the-board stimulus.