Financial News: China Inflation Rises In July

China Inflation Rises In July

08/09/2024 - 00:11:00 (RTTNews)

(RTTNews) - China's consumer price inflation rose more than expected in July, while producer prices continued to fall, data from the National Bureau of Statistics showed on Friday.

Consumer prices posted an annual increase of 0.5 percent after rising 0.2 percent in June. Prices were expected to gain 0.3 percent.

Meanwhile, core inflation that excludes prices of food and fuel, eased to 0.4 percent from 0.6 percent in June.

On a monthly basis, the consumer price index logged a 0.5 percent rise, faster than the forecast of 0.3 percent.

Another report from the NBS showed that producer prices decreased for the 22nd consecutive month. Prices fell 0.8 percent annually, the same pace of decline as seen in June. Economists had forecast prices to drop 0.9 percent in July.

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