China's CPI up 0.5pc in July
Official data from the National Bureau of Statistics (NBS) on Sunday showed that the country's consumer price index (CPI), a main gauge of inflation, rose 0.5 percent year on year in July. The core CPI, which excludes food and energy prices, increased 0.9 percent year on year, according to the bureau. Influenced by international imported factors, CPI in July edged down 0.1 percent on a…
China's consumer price index (CPI) rose 0.5% year-on-year in July, according to official data from the National Bureau of Statistics. The core CPI, which excludes food and energy costs, increased 0.9% year-on-year. However, the CPI showed a slight month-over-month decrease of 0.1%, likely due to external factors. Meanwhile, the producer price index, which tracks factory gate costs, climbed 3.5% year-on-year in July.
Zhang Zhiwei, President and Chief Economist of Pinpoint Asset Management, noted that momentum in the second quarter appeared to have weakened. He also mentioned that a Politburo meeting late in July indicated a stronger fiscal response as the policy measure. Analysts expect a couple of months to determine how this could stimulate domestic demand.
The latest figures follow a surge in exports and imports in July, driven by heightened overseas demand for AI-related technology products.
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