China’s Consumer Price Index Weakens to 1.4% in July

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Wednesday, Aug 09 2017

China’s Consumer Price Index Weakens to 1.4% in July

Chinese consumer inflation weakened slightly in July, while producer prices expanded at a steady pace, government data revealed Wednesday. The July consumer price index (CPI) advanced 1.4% from a year earlier, slightly below the previous month’s gain of 1.5%, the National Bureau of Statistics said in a report. Analysts in a median estimate called for a 1.5% increase.

China’s July producer inflation rose from a year earlier for the 11th straight month, official data showed. The producer price index (PPI) rose 5.5% in July, unchanged from the previous month. Recovering PPI-inflation has largely driven China’s stronger than expected growth in recent quarters. Gross domestic product (GDP) expanded 6.9% annually in the June quarter.

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