CPI hits new high with 4.4% increase

Monetary tightening pressure grows as key inflation index rises

BEIJING - Consumer prices surged 4.4 percent year-on-year in October, a 25-month high, stoking inflation fears and making further monetary tightening more likely following Wednesday's reserve ratio hike.

The consumer price index (CPI), a main gauge of inflation, increased 0.8 percentage points compared to September's 3.6 percent, the National Bureau of Statistics (NBS) said on Thursday. It gained 0.7 percent month-on-month in October, indicating inflationary pressures, analysts said.