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SITEMAP
Copyright © 2024 CGTN. 京ICP备20000184号
Disinformation report hotline: 010-85061466
China's consumer prices edged higher in August due to extreme weather conditions, while producer prices fell more sharply due to weak market demand and falling international commodity prices, official data showed on Monday.
The National Bureau of Statistics (NBS) reported that the Consumer Price Index (CPI), a key gauge of retail inflation, rose 0.6 percent in August year on year, slightly up from July's increase.
"Deadly floods and scorching heat this summer have significantly impacted farm produce prices, pushing up the inflation rate," said NBS statistician Dong Lijuan.
Conversely, the Producer Price Index (PPI), which measures the average change in selling prices received by domestic producers for their output, fell by 1.8 percent compared to the same month last year, a steeper decline than July's 0.8 percent drop.
On a month-to-month basis, the PPI in August decreased by 0.7 percent, widening from a 0.2 percent decrease in July.
"The decline in PPI can be largely attributed to insufficient market demand and a downward trend in some international commodity prices," Dong added.
(Cover via CFP)