Statistics showed that Guangzhou's Consumer Price Index (CPI) in October increased 5% over the same period of last year, down 0.3 percent in terms of increase range than that of September, 1 percent on a year-on-year base, in real terms, increasing 0.4 percent in terms of increase range over that of September. For the first ten months this year, Guangzhou's CPI increased 3.2 percent over the same period of last year, up 0.2 percent over that of the first nine months.

On November 19th, the Price Control Administration of Guangzhou Municipality released a brief that showed the abundant food supply in the golden autumn reduced the sales prices. However, the prices for service items had an abrupt increase due to the holiday effect of Golden Week, the increase in oil prices, the increase of loan rates, etc. In addition, there was also a slight increase in the price of production materials.

In October, the industrial consumer product price index in Guangzhou rose 0.9 percent on a year-on-year basis and up 0.7 percent over the same period last year. With the weather becoming colder, the warm clothes entered into the market. The price for clothes rose 4.9 percent over that of last month. However, the price for clothing materials was down 5.1 percent on a year-on-year basis.

What's more, the housing loan rate in Guangzhou increased 1.7 percent on a year-on-year basis. Driven by the increase in international oil prices, the price for liquefied petroleum gas increased 6.4 percent on a year-on-year basis.

Editor: Donald