Inflation on the mainland picks up in August

In August, inflation on the mainland increased according to data from the National Bureau of Statistics. The consumer price index saw a 0.4 percent rise month-on-month, marking an end to three months of decline. The year-on-year gain accelerated from 0.5 percent to 0.8 percent. This upward trend was attributed to several factors, including higher energy prices, seasonal food price increases, increased travel services during the summer holiday, and greater demand for smartphones and computers.

While the core CPI, excluding food and energy, still rose to 1 percent year-on-year, it was a small improvement from the previous month's 0.9 percent. Factory-gate prices also showed positive signs, with the producer price index increasing 0.4 percent month-on-month after a decline of 0.7 percent the previous month. The year-on-year gain widened to 3.8 percent, surpassing the 3.5 percent increase in July and exceeding the 3.6 percent forecast by analysts.