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报告摘要

October headline CPI inflation eased to 0.7% yoy (-0.2ppt mom), below Bloomberg consensus of 0.8% yoy, as food deflation deepened (-2.9% yoy, -1.2ppt mom). Core CPI inflation slowed to 0.8% yoy (-0.2ppt mom), below consensus of 0.9% yoy, with goods inflation (0.8% yoy, -0.2ppt mom) and services inflation (0.7% yoy, -0.1ppt mom) both easing.