Economic news
China’s July consumer prices jump faster than expected, producer deflation persists
2024.08.08 21:50
BEIJING (Reuters) – China’s consumer inflation quickened in July, while producer deflation persisted, as Beijing ramps up support for its frail consumer sector amid a sputtering economic recovery.
The consumer price index (CPI) edged up 0.5% in July from a year earlier, against a rise of 0.2% in June, data from the National Bureau of Statistics (NBS) showed on Friday, beating expectations for an increase of 0.3% in a Reuters poll of economists.
CPI rose 0.5% month-on-month, against a fall of 0.2% in June and a forecast 0.3% increase.
The producer price index (PPI) was down 0.8% in July from a year earlier, unchanged from the previous month, and above an expected 0.9% fall.
