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China's CPI rises 0.2% in June, maintains upward trend

10 Jul '24
15 min read
China's CPI rises 0.2% in June, maintains upward trend
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Insights

  • China's CPI rose by 0.2 per cent YoY in June, slightly below May's 0.3 per cent, marking the fifth month of consecutive increases.
  • The core CPI remained steady at 0.6 per cent.
  • Non-food prices increased by 0.8 per cent, driven by a 3.1 per cent rise in energy prices.
  • The PPI fell by 0.8 per cent YoY, improving from May's 1.4 per cent drop.

China's consumer price index (CPI), a key indicator of inflation, increased by 0.2 per cent year-on-year (YoY) in June, according to the National Bureau of Statistics (NBS). This figure is slightly below the 0.3 per cent rise observed in May but marks the fifth consecutive month of price level increases.

The core CPI, which excludes food and energy prices, rose by 0.6 per cent, remaining steady compared to May. Non-food prices saw a YoY increase of 0.8 per cent in June, driven by a 3.1 per cent rise in energy prices, according to Chinese media reports.

Meanwhile, the producer price index (PPI), which tracks the cost of goods at the factory gate, fell by 0.8 per cent YoY last month. This decline represents a significant improvement from the 1.4 per cent drop in May and the 2.5 per cent decrease in April.

Fibre2Fashion News Desk (DP)

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