China: Inflation rises in June due to higher food prices
July 9, 2020
Consumer prices fell 0.1% over the previous month in June, following May’s 0.8 % decrease. The decline reflected lower prices for most of the groups, with the exception of the all-important food, tobacco and alcohol category.
Inflation rose from May’s 14-month low of 2.4% to 2.7% in June. The print was in line with the result that market analysts had expected. Annual average inflation stabilized at May’s 3.7% in June.
Annual producer prices (PPI), meanwhile, fell 3.0% year-on-year in June. The print was above the 3.7% drop in May and the 3.2% decrease that market analysts had expected.