Consumer prices up 1.8% in July
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.