The FINANCIAL — China’s consumer inflation edged up in June, which will ease some concerns about the risk of deflation, official data showed on July 9, according to Nasdaq.
China’s consumer price index rose 1.4% in June from a year earlier, quicker than the 1.2% year-over-year rise in May, data from the National Bureau of Statistics showed.
The rise in the key inflation gauge exceeded the median 1.3% gain forecast from a survey of 14 economists by The Wall Street Journal.
The CPI remained unchanged in June from May. In May, it declined 0.2% from the preceding month.
China’s producer price index dropped 4.8% in June from a year earlier, worsening from a 4.6% year-over-year drop in May.
The fall in the gauge of factory-gate prices undershot economists’ median forecast of a 4.6% decline.
The PPI also declined 0.4% in June from May. In May, it fell 0.1% from the preceding month.
The mild inflation gave China’s central bank room in June to cut its benchmark interest rates for the fourth time since November to spur economic growth.
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