China's CPI up 2.8%, PPI down 0.8% in August
Updated 15:12, 10-Sep-2019

China's consumer price index (CPI), a main gauge of inflation, rose by 2.8 percent year-on-year in August, the National Bureau of Statistics (NBS) showed on Tuesday.

Food prices climbed 10.0 percent year-on-year last month, 0.9 percentage points higher than that in July, according to the NBS.

Non-food prices gained 1.1 percent, 0.2 percentage points lower than that in the previous month.

The CPI in the urban areas and countryside rose 2.8 percent, 3.1 percent, respectively.

On a month-on-month basis, the CPI inched 0.7 percent in August, the NBS said.

Due to the approaching Mid-Autumn Festival and the substitution of consumption, price of eggs, beef, lamb, chicken and duck increased 2.0-5.9 percent.

In the first eight months of 2019, the CPI went up 2.4 percent on average from the same period a year earlier.

China's producer price index (PPI), which measures costs for goods at the factory gate, declined by 0.8 percent year-on-year in August, according to the NBS.

The pace was 0.5 percentage points higher than the previous month.

On a monthly basis, the PPI saw a slight dip from July, falling by 0.1 percent.

Factory price of production materials went down 1.3 percent while that of consumer goods increased 0.7 percent year-on-year in August.

Among major industries, oil and natural gas extraction industries saw a fall of 9.1 percent in prices last month, according to the bureau.