Data from the National Bureau of Statistics in China released this morning showed that the annual consumer price index, which measures inflation, fell by 0.3% in July, compared to 0.0% in June, below expectations, which indicated a decline to 0.4%, to record its first decline since February of the year. 2021, while the main index, excluding food and energy prices, rose by 0.8%, its highest level since January.
Food prices declined by 1.7% year-on-year in July compared to a 2.3% increase in June, while non-food prices remained flat after declining by 0.6% in the June reading.
On the other hand, China’s PPI fell to 4.4%, compared to a decline of 5.4% in June, while it had been expected to decline to 4.1%.
23/12/2024
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