China's October producer inflation quickens further, consumer prices edge down

BEIJING, Nov 9 (Reuters) - China's producer prices rose further in October while consumer inflation cooled, reflecting persistent cost pressures from higher oil prices despite weak domestic demand.

The producer price index climbed to 5.7% last ⁠month from a year earlier, compared with a 5.0% increase in September, beating economists' forecasts for a 5.3% gain in a Reuters poll, data from the National Bureau of Statistics showed on ⁠Monday.

Consumer inflation, as measured by the consumer price index (CPI), stood at 0.7% year-on-year, versus a 0.9% ⁠rise in September, below economists' expectations for a 0.8% increase.

On a monthly ⁠basis, the CPI matched forecasts for an unchanged outcome after ⁠edging up 0.2% in September.

Reporting by Qiaoyi Li and Ryan Woo; Editing by Thomas Derpinghaus