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Economic Watch: China's CPI, PPI growth picks up pace amid rising costs******

A customer buys vegetables at a supermarket in Zaozhuang, east China's Shandong Province, Aug. 9, 2021. (Photo by Sun Zhongzhe/Xinhua)。

BEIJING, Nov. 10 (Xinhua) -- China's consumer price index (CPI), a main gauge of inflation, rose 1.5 percent year on year in October, data from the National Bureau of Statistics (NBS) showed Wednesday.。

The figure was higher than the 0.7 percent year-on-year growth recorded in September.。

Specifically, non-food prices rose 2.4 percent from a year earlier, contributing about 1.97 percentage points to the CPI growth, said senior NBS statistician Dong Lijuan.。

Food prices dropped 2.4 percent, with the price of pork, a staple meat in China, slumping 44 percent. However, the price of fresh vegetables, which declined 2.5 percent in September, saw a 15.9 percent increase last month, said Dong.。

The NBS attributed October's CPI increase to unusual weather conditions, rising costs and supply-demand imbalance in some products.。

On a monthly basis, CPI increased 0.7 percent. Food prices increased 1.7 percent, while non-food prices rose 0.4 percent.。

The country has set its consumer inflation target at approximately 3 percent for the year 2021, according to this year's government work report.。

On the industrial side, China's factory prices continued to pick up last month due to global factors and a strained domestic supply of key energy and raw materials.。

The country's producer price index (PPI), which measures costs for goods at the factory gate, went up 13.5 percent year on year in October.。

The figure went up from the 10.7 percent year-on-year increase registered in September. On a monthly basis, China's PPI rose 2.5 percent in October.。

Specifically, the rising prices of international crude oil have driven the prices of domestic oil-related industries, with the PPI for the oil exploitation sector up 7.1 percent from a month ago, said Dong.。

Caused by the tight supply of coal last month, the factory-gate prices for coal mining and washing industry increased 20.1 percent month on month, while that for coal processing industry saw 12.8-percent growth.。

In general, inflation has put limited pressure on the country's monetary policy, but imbalances are mounting in both the domestic and global economic recovery, said Wen Bin, chief analyst at China Minsheng Bank.。

The country should continue its efforts to tackle the supply shortfalls of major energy products and help market entities cope with the rising costs of raw materials, Wen said.。

China's energy crunch is expected to alleviate as the country's multiple measures to boost supply and rein in price hikes have started to take effect.。

The country's coal output has sustained its growth momentum since mid-October. The maximum daily output of coal has hit 11.93 million tonnes, a record high in recent years, said the National Development and Reform Commission, the economic planner.。

Coal for power generators and heating suppliers is guaranteed as mid to long-term coal supply contracts have roughly covered demand, according to the economic planner.。

Increased coal output and inventories at power plants will help drive down the soaring coal prices, the commission said, noting that prices are expected to continue their decline as production and inventories rise further. Enditem。

17th China Theater Festival concludes in Wuhan******

WUHAN, Oct. 27 (Xinhua) -- The 17th China Theater Festival, a Chinese national performing arts event, concluded Wednesday in the capital of central China's Hubei Province, Wuhan.

A total of 31 plays of various genres, including Peking Opera, Kunqu Opera, drama, and children's plays, were performed at the festival, which kicked off on Oct. 9.

Works that mark the 100th anniversary of the founding of the Communist Party of China and a collection of works featuring the country's anti-poverty and COVID-19 battles drew large audiences.

Founded in 1988, the festival is held in a different Chinese city every other year. The 18th China Theater Festival will take place in Hangzhou, the capital of east China's Zhejiang Province, in 2023. Enditem

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Police seek motive in deadly Sweden school attack******

AFP

Bouquets of flowers lie on stairs as people hug outside the Malmo Latin School on March 22, 2022 in Malmo, Sweden, a day after two women were killed.

Police in Sweden were Tuesday attempting to determine why an 18-year-old student allegedly killed two teachers at a high school a day earlier in an attack that has shaken the country.

The two victims, both women in their 50s, were teachers at Malmo Latin, a large high school in Sweden's third-biggest city, police said at a press conference on Tuesday.

Media reports said the suspect, whose name has not been disclosed, was armed with a knife and an axe, though police have not confirmed that information.

Police chief Petra Stenkula said police had seized "several weapons that are not firearms" at the scene.

Investigators were now trying to determine whether the suspect specifically targeted his victims or chose them at random, and whether he had planned to attack more people.

"We don't know yet if he had any connection to these employees", Stenkula told reporters.

The student "has no criminal record", she said, adding that police were looking into his background and movements prior to the attack.

Investigators were on Tuesday searching the suspect's home in the nearby town of Trelleborg, she added.

Police were alerted to the attack at 5:12 pm (1612 GMT) and a first patrol was able to enter the school minutes later.

About 50 students and teachers were inside at the time, and news footage showed heavily equipped and armed police inspecting the interior of the building.

- Recent attacks -

The suspect was arrested on the third floor just 10 minutes after the first alert, putting up no resistance, Stenkula said.

His two victims were lying on the floor nearby, she added.

The teachers were rushed to hospital for treatment but their deaths were announced later in the evening.

According to daily Aftonbladet, the alleged attacker called emergency services to say where he was and that he had laid down his weapons, and confessed to the killings.

Swedish Prime Minister Magdalena Andersson on Tuesday expressed her "sadness" and "consternation" over the attack.

At the high school, which was closed on Tuesday, a support group has been set up for teachers and students, local authorities said.

"Everyone is deeply shocked. Devastated," a teacher at the school who didn't want to be identified told AFP on Tuesday.

"It's an awful crime, it's impossible to take it all in", she said, standing outside the school where a group of about 20 students stood hugging and crying, some with flowers to lay down on the ground.

School attacks are relatively rare in Sweden, which has in recent years grown more accustomed to shootings and bombings in underworld settlings of scores that kill dozens of people each year.

But several serious incidents have taken place at schools in southern Sweden in recent months.

In January, a 16-year-old was arrested after wounding another student and a teacher with a knife at a school in the small town of Kristianstad.

That incident was linked to a similar knife attack in August 2021 in the town of Eslov, about 50 kilometres (30 miles) away, when a student attacked a 45-year-old school employee.

No link has been established between those two events and the Malmo attack.

Hong Kong shares snap 5******

HONG KONG, Nov. 24 (Xinhua) -- Hong Kong shares ended higher Wednesday, with the benchmark Hang Seng Index edging up after falling for five consecutive days.。

The index recovered by 0.14 percent to end at 24,685.5 points, led by a 3.01-percent charge of Chinese online shopping platform Meituan.。

The Hang Seng China Enterprises Index, a benchmark that reflects the overall performance of the Chinese mainland securities listed in Hong Kong, lost 0.37 percent to end at 8,794.82 points.。

Despite the gains in the overall market, many stocks continued their overall downtrend. Enditem。

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