Home>>

China's CPI up 0.6% in August

(Xinhua) 13:58, September 09, 2024

China's consumer prices continued to rise in August amid a sustained recovery of domestic demand, official data showed Monday.

The consumer price index (CPI), a main gauge of inflation, was up 0.6 percent year-on-year last month, quickening from the 0.5 percent increase in July, the National Bureau of Statistics (NBS) said in a statement. On a monthly basis, the CPI grew 0.4 percent in August, slightly lower than the 0.5 percent increase in July.

NBS statistician Dong Lijuan attributed the price changes last month to factors including high temperatures and frequent rainfall in summer.

 

The country's producer price index (PPI), which measures costs for goods at the factory gate, went down 1.8 percent year-on-year in August, said the NBS.

The decline was bigger than a 0.8-percent year-on-year dip registered in July.

On a monthly basis, the PPI edged down 0.7 percent, widening from a 0.2 percent decrease a month earlier, the data showed.

NBS statistician Dong Lijuan attributed the PPI decrease to insufficient market demand and the downward trend in prices of some international commodities.

From January to August, the average PPI decreased by 1.9 percent from a year ago.

(Web editor: Tian Yi, Zhong Wenxing)

Photos

Related Stories