Consumer price index (CPI), the main indicator of inflation in China, rose to a two-year high of 2.7 per cent in July 2022, according to the data released by the country’s National Bureau of Statistics (NBS). Producer price index (PPI), which measures prices charged by manufacturers, was up by 4.2 per cent in July, compared to a rise of 6.1 per cent in June.
Under CPI, non-food prices inched up 1.9 per cent year-on-year, compared to the 2.5 per cent growth in June. The core CPI, excluding food and energy prices, was up 0.8 per cent in July, as against the 1 per cent increase in the previous month.Consumer price index (CPI), the main indicator of inflation in China, rose to a two-year high of 2.7 per cent in July 2022, according to the data released by the country's National Bureau of Statistics (NBS). Producer price index (PPI), which measures prices charged by manufacturers, was up by 4.2 per cent in July, compared to a rise of 6.1 per cent in June.
On a month-on-month basis, the CPI grew 0.5 per cent, the NBS data showed.
The drop in PPI in July compared to June shows that prices of manufactured products are declining in China.
Fibre2Fashion News Desk (RKS)
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