Con­sumer prices up 1.8% in July

China Daily (Canada) - - NEWS CAPSULE -

China’s con­sumer price in­dex (CPI), a main gauge of in­fla­tion, rose 1.8 per­cent year-on-year in July, down from June’s 1.9 per­cent, the Na­tional Bu­reau of Sta­tis­tics an­nounced.

The July data dropped for the third-con­sec­u­tive month from 2.3 per­cent in April, when the CPI reached its high­est level since July 2014. On a month-on­month ba­sis, the CPI rose 0.2 per­cent in July.

NBS statis­ti­cian Yu Qi­umei at­trib­uted the mod­er­ated in­fla­tion mostly to eased food prices. The price of pork rose 16.1 per­cent year-on-year in July, slow­ing from 30.1 per­cent recorded in June.

Since Jan­uary, CPI has been cal­cu­lated us­ing a new com­par­i­son base and in­cluded more prod­ucts and ser­vices, while slightly re­duc­ing the weight­ing of food.

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