China: Inflation increases in July due to higher food prices
August 10, 2020
Consumer prices rose 0.6% over the previous month in July, contrasting June’s 0.1 % decrease. The increase reflected much higher prices for the food, tobacco and alcohol category.
Inflation rose from June’s 2.5% to 2.7% in July. The print was slightly above the 2.6% that market analysts had expected. Annual average inflation stabilized at June’s 3.7% in July.
Annual producer prices (PPI), meanwhile, fell 2.4% year-on-year in July. The print was above the 3.0% drop in June and the 2.5% decrease that market analysts had expected.