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China’s consumer inflation up 1.4% in July

Updated: Aug 9,2017 10:05 AM     Xinhua

BEIJING — China’s consumer price index (CPI), a gauge of inflation, rose 1.4 percent year on year in July, the National Bureau of Statistics (NBS) said on Aug 9.

It was slightly down from June’s 1.5 percent. On a month-on-month basis, the index was up 0.1 percent, according to the bureau.

Consumer inflation was generally stable in July. Food prices, the biggest component of the CPI, were down 0.1 percent, the NBS said.

Vegetable prices rose 7 percent after declining for five straight months as scorching summer and heavy rain restricted output. Fruit prices shed 9.2 percent due to oversupply. Pork prices declined 0.7 percent as consumption fell in summer.

Year on year, food prices dropped 1.1 percent in July, while nonfood prices rose 2 percent.

Excluding volatile food and energy prices, the core CPI increased 2.1 percent year on year in July.

China’s producer price index (PPI), which measures costs for goods at the factory gate, rose 5.5 percent year on year in July, according to the NBS.

It was unchanged from the previous two months. On a month-on-month basis, the index was up 0.2 percent.

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