Con­sumer in­fla­tion moves up on food prices

China Daily (USA) - - NEWS CAPSULE -

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)

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