Consumer inflation moves up on food prices
China’s consumer inflation picked up in August, driven by higher food prices.
The consumer price index (CPI), a main gauge of inflation, accelerated more than expected to a seven-month high of 1.8 percent in August, up from July’s 1.4 percent, beating market expectations of 1.6 percent, according to data released by the National Bureau of Statistics (NBS). On a monthly basis, the index was up 0.4 percent last month.
For the first eight months of the year, CPI climbed 1.5 percent from one year earlier.
The stronger, yet still moderate, inflation rate remained well below the government’s annual inflation regulation target of around 3 percent for 2017.
On a monthly basis, CPI was up 0.4 percent last month. (Photo 1)