China Inflation


Inflation reaches an over two-year low in June

In June, consumer prices added 2.2% over the same month last year, which was below both the 3.0% increase registered in May and the 2.3% rise expected by the market. In fact, the June print represents the lowest inflation figure since January 2010. Owing to the softer rise, annual average inflation eased from 4.7% in May to 4.4% in June. The deceleration observed in June was mainly due to lower food inflation, which moderated from 6.4% in May to 3.8%, as well as for transportation and communication. The producer price index fell 2.1% over the same month last year in June, following the 1.4% drop observed in May. The reading represents the lowest rate since October 2009. As a result, annual average producer price inflation slowed further, falling from 3.0% in May to 2.3% in June.

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China Inflation Chart

China Inflation June 2012

Note: Year-on-year and annual average variation of consumer price index in %.
Source: National Bureau of Statistics of China (NBS).

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