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MNI BRIEF: China July CPI Hits Five Month High At 0.5% Y/Y

MNI (Singapore)
MNI (Beijing)

China's Consumer Price Index rose 0.5% y/y in July to hit a five-month high, quickening from June’s 0.2% and beating the 0.3% consensus, data from the National Bureau of Statistics showed Friday.

Food prices remained flat from the same time last year, reversing June’s 2.1% fall. Pork prices rose by 20.4% while vegetables and eggs also increased amid hot and rainy weather. Non-food prices rose 0.7% due to base effects.

On a monthly basis, CPI rose 0.5%, reversing June's -0.2%, as fast increases in air tickets, tourism and hotels during the summer holiday added 0.24 percentage points.

PPI declined 0.8% y/y, unchanged from last month and marking the 22nd consecutive negative reading, but was in line with the market consensus of -0.9%. PPI fell 0.2% m/m, the same as June, driven by weak demand and falling international commodity prices, the NBS said.

DataCentral Bank NewsPolicy NewsPBOCAPACChinaData BriefBriefStoryData StoriesEM Policy NewsEM Policy StoryEM BriefEM EmailEM Central Bank NewsPeoples Bank of ChinaRegion
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DataCentral Bank NewsPolicy NewsPBOCAPACChinaData BriefBriefStoryData StoriesEM Policy NewsEM Policy StoryEM BriefEM EmailEM Central Bank NewsPeoples Bank of ChinaRegion
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