Growth in China's consumer price index (CPI) slowed to 1.6 percent in September, the lowest since January 2010, according to data released by the National Bureau of Statistics (NBS) on October 15.

In August, the CPI registered an increase of 2 percent.

On a monthly basis, the index inflated 0.5 percent in September, faster than the previous month's 0.2-percent growth.

The CPI grew 2.1 percent year on year in the first nine months, well below the 3.5-percent full-year control target set by the government.

China's producer price index (PPI), which measures inflation at wholesale level, dropped 1.8 percent year on year in September, the NBS said.

The PPI declined for the 31st straight month and at a faster pace than the previous month, indicating shrinking demand and rising production overcapacity amid slowing economic growth.

In the first nine months, the country's PPI dropped 1.6 percent year on year, the data showed.

"The PPI rate drop continues to expand, indicating that the task of digesting production overcapacity is huge," said Wang Jun, a researcher with the China Center for International Economic Exchange, adding that the downward pressure on China's economy has not been relieved and the foundation for economic recovery is fragile.