China’s consumer prices continued to rise in August amid a sustained recovery of domestic demand, official data showed Monday.
The consumer price index (CPI), a main gauge of inflation, was up 0.6% year on year last month, quickening from the 0.5% increase in July, the National Bureau of Statistics (NBS) said in a statement.
Meanwhile, China’s producer price index (PPI), which measures costs for goods at the factory gate, went down 1.8% year on year in August, the National Bureau of Statistics (NBS) said Monday.
The decline was bigger than a 0.8% year-on-year dip registered in July.
On a monthly basis, the PPI edged down 0.7%, widening from a 0.2% decrease a month earlier, the data showed.
NBS statistician Dong Lijuan attributed the PPI decrease to insufficient market demand and the downward trend in prices of some international commodities.
From January to August, the average PPI decreased by 1.9% from a year ago.
Source: Qatar News Agency