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Chinese Consumer Prices rise for the 5th month in a row
Posted on July 18, 2024 |
China's consumer price index (CPI) rose by 0.2% year-on-year in June.
The producer price index (PPI) fell by 0.8% in June, the smallest decline in 17 months.
CPI has grown for five consecutive months, with core CPI (excluding food and energy) up 0.6% in June.
Seasonal abundance caused prices of fresh vegetables, potatoes, fruits, and aquatic products to drop, lowering the CPI by about 0.25 percentage points in June.
The "618" shopping festival reduced prices of automobiles, household appliances, and entertainment goods by 0.8% to 1.3%.
The PPI decline indicates easing factory-gate prices, marking the smallest drop in over a year.
Core CPI's modest increase shows steady inflation in sectors other than food and energy.