China inflation hovers near 5-year low

Beijing

CHINA'S annual consumer inflation remained near a five-year low in October at 1.6 per cent, further evidence that the world's second-largest economy is cooling and reinforcing expectations that authorities will roll out more measures to support growth.

Analysts polled by Reuters had expected annual consumer inflation to be 1.6 per cent in October, the same as September, which was the weakest reading since January 2010.