CHINA China's CPI up 1 pct in July

CHINA

China's CPI up 1 pct in July

Xinhua

09:34, August 09, 2021

BEIJING, Aug. 9 (Xinhua) -- China's consumer price index (CPI), one of the main gauges of inflation, rose 1 percent year on year in July, data from the National Bureau of Statistics (NBS) showed on Monday.

A woman selects vegetables at a supermarket in Nanjing, Jiangsu province, July 9, 2021. [Photo/IC]

The figure was lower than the 1.1 percent year-on-year growth recorded in June.

The slower growth was partly driven by a drop in food prices, which declined 3.7 percent year on year last month. In particular, the price of pork, a staple meat in China, slumped 43.5 percent year on year in July.

In general, market demand and supply remained steady last month amid government measures to keep prices stable, said senior NBS statistician Dong Lijuan.

China's producer price index, which measures costs for goods at the factory gate, rose 9 percent year on year in July, according to the NBS.

China has set its consumer inflation target at approximately 3 percent for the year 2021, according to this year's government work report.

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