China’s consumer price index up 2.5 per cent in June
A customer shops for pork at a supermarket in Huaibei city, east China's Anhui province, November 9, 2018. [File Photo: IC]. Sketched by the Pan Pacific Agency.
BEIJING, JUl 10, 2020, China Daily. China’s consumer price index, a main gauge of inflation, grew 2.5 percent year-on-year in June, with the increase mainly driven by rising food prices, the National Bureau of Statistics said on Thursday (Jul 9), China Daily reported.
The rebound of new COVID-19 cases in Beijing and severe floods in some provinces have led to the rise of vegetable prices due to the temporary supply shortage while the reduced imports of pork as a result of stricter epidemic control measures have also caused a slight increase in pork prices, the NBS said.
The core CPI, which excludes food and energy prices, rose 0.9 percent year-on-year last month, 0.2 percentage points lower than the previous month.
The country’s producer price index, which gauges factory-gate prices, declined by 3 percent year-on-year in June, narrowing from a 3.7 percent decline in May. Looking at the month-on-month change, the PPI turned positive, up by 0.4 percent, contrasting with a 0.4 percent decline in the previous month.
The month-on-month rise of the producer prices reflected a rebound of international commodities prices, steady recovery in the domestic manufacturing sector and improved domestic demand, the NBS said.
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