Macro· Data

China’s CPI highest in 6 mths, up 2.3% in Aug

minutes 2018/09/10 09:09:50
China Financial News, China News, CPI

Sep 10, 2018 (China Knowledge) - China’s consumer price index witnessed a surge of 2.3%, according to official data released by the National Bureau of Statistics (NBS) today. In August, the CPI rose 2.3% year-on-year (YoY), after increasing 2.1% in July alone.

Food prices were up 1.7% last month, where fresh vegetable prices grew 4.3%, an increase of 3.8% since July. Pork prices, on the other hand fell 4.9% in August after declining 9.6% in July. Whereas, non-food prices went up 2.5%, including gasoline and diesel prices which surged by 19.8% and 22% YoY, respectively.

In last eight months, the average consumer price climbed by 2% over the same period last year. The price of food, tobacco and alcohol rose 1.9%, contributing about 0.55% to the CPI.

The other seven categories which all rose YoY include health care which ascended 4.3%, while transport & communication, education & entertainment, and residential prices were up 2.7%, 2.6% and 2.5%, respectively.

There was a growth of 1.6% in the prices of household goods while there was an increase of 1.3% and 1.2% on clothing, and other goods and services, respectively.

The NBS has reported the CPI inflation higher than 2% for two consecutive months.

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