The Chinese National Bureau of Statistics released its consumer and producer price inflation data for China on Wednesday. The Chinese consumer price index (CPI) rose at annual rate of 1.6% in September, missing expectations for a 1.8% increase, after a 2.0% gain in August.

The inflation was driven by a rise in food prices. Food prices rose at an annual rate of 2.7% in September, while non-food prices increased 1.0%.

On a monthly basis, consumer price inflation increased 0.1% in September, after a 0.5% rise in August.

The Chinese producer price index (PPI) dropped 5.9% in September, in line with expectations, after a 5.9% decline in August. It was the biggest decline since 2009.