China's consumer prices down 0.2% as Singles Day spending muted

Economic worries cast shadow over annual shopping extravaganza

20231109 singles day

Alibaba advertisements promoting the Singles Day shopping festival line the walls of a subway station in Beijing on Oct. 26. © Reuters

CK TAN, Nikkei staff writer

SHANGHAI -- China's consumer prices declined slightly in October, according to data released Thursday, while a new survey suggests economic headwinds are restraining shoppers during the country's Singles Day retail campaign.

The consumer price index fell 0.2% compared with the same month a year earlier, the statistics office said. With deflationary pressure looming over the country's growth prospects, the index had also contracted in July. It was flat in September.

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