Economic news
China’s consumer prices rise at faster pace in August
2024.09.08 21:57
BEIJING (Reuters) – China’s consumer prices rose at a faster rate in August, while producer price deflation persisted, as Beijing maintained efforts to reinvigorate domestic demand.
The consumer price index (CPI) grew 0.6% from a year earlier last month, versus a 0.5% rise in July, data from the National Bureau of Statistics (NBS) showed on Monday, below a 0.7% increase forecast in a Reuters poll of economists.
CPI was up 0.4% month-on-month, compared with a 0.5% increase in July and missing an expected 0.5% gain.
The producer price index (PPI) slid 1.8% in August on year, worsening from a 0.8% decline the previous month, and below a forecast 1.4% fall.
