China's CPI rises at fastest pace in September since April 2020

China's consumer prices in September rose at the fastest pace since April 2020, mainly driven by food prices, limiting the scope for more central bank easing to prop up a faltering economy hit by COVID-19 restrictions and a property sector slump.

The consumer price index (CPI) rose 2.8% from a year earlier, quickening from a 2.5% increase in August, National Bureau of Statistics (NBS) data showed on Friday, in line with forecast in a Reuters poll of analysts.

The producer price index (PPI) rose 0.9% year-on-year from 2.3% growth a month earlier, and compared with a forecast of 1.0%.

The world's second-largest economy barely grew in the June quarter and has struggled to regain traction amid protracted pandemic restrictions, a severe slump in the property market and softening exports.