Loading...
The Financial Express
Swasti Lankabangla Swasti Lankabangla

China's consumer inflation rises to 2.5pc in June

| Updated: July 11, 2020 15:07:47


File photo (collected) File photo (collected)

China's consumer inflation remained generally stable in June under the country's continued efforts toward economic recovery, official data showed Thursday.

Consumer price index (CPI), the main gauge of inflation, grew 2.5 per cent year on year last month, expanding from the 2.4-per cent gain in May, according to data from the National Bureau of Statistics.

On a monthly basis, consumer prices went down 0.1 per cent. Food prices, which account for nearly one-third of weighting in China's CPI, went up 0.2 per cent last month, reports Xinhua.

In breakdown, pork prices rebounded to climb 3.6 per cent from May as supply contracted over factors including declining hog production and pork import, as well as increasing demand from catering industry.

Prices of vegetables rose 2.8 per cent from May over flood in many regions across China and temporary closure of the Xinfadi farm produce wholesale market in Beijing for COVID-19 control.

Compared with the same period last year, food prices remained the main driver of consumer inflation in June, while its growth rate strengthened from May to 11.1 per cent.

In the first half of this year, CPI went up 3.8 per cent year on year on average.

Thursday's data also showed China's producer price index, which measures costs for goods at the factory gate, fell 3.0 per cent year on year last month.

sepnil-desktop-ad-the-financial-express sepnil-mobile-ad-the-financial-express

Share if you like