China: Inflation inches up in July; PPI falls for first time in nearly three years
Consumer prices rose 0.4% from the previous month in July, following June’s 0.1% drop. The print mostly reflected higher prices for food and services.
Inflation edged up to 2.8% in July from 2.7% in June. The print was slightly above market analysts’ expectations. Annual average inflation inched up to 2.3% in July from 2.2% in June.
Annual producer prices (PPI), meanwhile, fell 0.3% following June’s flat reading and marked the first drop in prices in nearly three years. The result overshot market expectations of a 0.1% drop.