Business
14:20, 10-Jul-2018
China's CPI up 1.9 pct in June
Updated
13:19, 13-Jul-2018
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China's consumer price index (CPI), a main gauge of inflation, rose 1.9 percent year on year in June, compared with 1.8 percent in May, data from the National Bureau of Statistics (NBS) showed Tuesday.
On a month-on-month basis, the CPI declined 0.1 percent.
Lower prices of fresh fruits and vegetables driven by abundant supply were the major reason for the CPI decline from May, said NBS statistician Sheng Guoqing.
Food prices slipped 0.8 percent month on month and climbed only 0.3 percent year on year.
The price of pork, China's staple meat, slumped 12.8 percent year on year, dragging down CPI growth by 0.32 percentage point. On a monthly basis, it registered a 1.1-percent increase after a straight three-month decline.
Non-food prices rose 2.2 percent from the same period last year, and 0.1 percent from May.
China is aiming to keep annual CPI growth at around 3 percent this year, the same as in 2017.
The producer price index, which measures costs for goods at the factory gate, rose 4.7 percent year on year in June, hitting a six-month high.
Source(s): Xinhua News Agency