China's consumer inflation rate grew at its fastest pace in six months in October. That came as producer prices accelerated to a near-five year high, exceeding expectations.

The National Bureau of Statistics said Wednesday that  the consumer price index rose 2.1 percent in October from a year earlier.

That's compared with a 1.9 percent increase in September. A jump in food prices fueled faster consumer inflation. Factory prices increased 1.2 percent on-year.

That was the quickest rise since December 2011. Stronger factory prices in October and September have helped boost industrial profits, relieving some pressure on companies squeezed by higher costs and weak demand.