China: Inflation inches down in August
September 9, 2013
Consumer prices increased 2.6% over the same month last year in August, coming in below the 2.7% rise tallied in July. The print, which matched market expectations, mainly reflects more moderate price increases for food and housing. The trend stabilized in August with annual average inflation unchanged over July's 2.3%.
Meanwhile, the producer price index fell 1.6% in August over the same month last year, which was up from the 2.3% drop tallied in July. August's decrease overshot the 2.1% decline that market analysts had expected.
The government expects that inflation will average 3.5% this year. FocusEconomics Consensus Forecast participants anticipate that inflation will average 2.7% in 2013, which is down 0.1 percentage points from last month's estimate. In 2014, the panel sees inflation rising to 3.2%.