Business
11:38, 10-Jul-2017
China's consumer inflation up by 1.5% in June
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China's Consumer Price Index (CPI) rose 1.5 percent year-on-year in June, the National Bureau of Statistics (NBS) said on Monday.
It was in line with the prior month, but quickened from April's 1.2 percent.
The June figure was down 0.2 percent compared to May, but overall consumer prices in the first half of the year were 1.4 percent higher year-on-year.
The 1.5 percent year-on-year increase in June can be mainly contributed to an increase in services, which rose by three percent compared to the previous year.
Also in June, the Producer Price Index (PPI) grew by 5.5 percent year-on-year, and was in line with the 5.5 percent increase in the prior month, according to the NBS statistics.
PPI growth had seen a decline since April, after months of consecutive increases since July 2016.
Chief Analyst Cai Junyi from Shanghai Securities expected the CPI to gradually rise by less than two percent and the PPI to fall in August.
Independent commentator Jiao Hongmei has a negative outlook for the PPI, in either the short term or for the second half of 2017. She believes the export volume of some manufactured products could rise, creating a bright spot shortly.
Liu Xuezhi, a senior analyst at Bank of Communications, expects the CPI to rise in the fourth quarter, thanks to the probable return to rising food prices in the same period.
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