Chinese consumer price inflation has seen an uptick in July, rising closer to the 3% threshold.
In July China’s national Consumer Price Index (CPI) saw a year-on-year (YoY) increase of 2.7%, according to data released by China’s National Bureau of Statistics on 10 August.
The inflation rate marks a rise of 0.4 percentage points compared to May and April, when YoY CPI growth stood at 2.1%.
CPI in July also rose 0.5% compared to the preceding month, while for the period from January to July CPI rose 1.8% compared to the same period last year.
China’s national Producer Price Index (PPI) rose 4.2% YoY in July, yet declined 1.3% compared to June. For the period from January to July China’s PPI rose 7.2% compared to the same period last year.