* China's producer prices have fallen for almost three years * September CPI -0.3% y/y, slightly worse than forecast * Trade tensions cloud business outlook (Adds details, background, analyst comments) BEIJING, Oct 15 (Reuters) – Deflationary pressures persisted in China, with both consumer and producer prices falling in September, official data showed on Wednesday, as a prolonged property market downturn and trade tensions weighed on consumer and business confidence. China's export growth bounced back in September, but renewed trade measures and threats from Beijing and Washington have rekindled concerns about jobs and further deflation. Producer prices (PPI) in September fell 2.3% from a year earlier, narrowing from a 2.9% fall in August, National Bureau of Statistics (NBS) data showed.

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