Beijing, September 9 (EFE). The Consumer Price Index (CPI), China’s leading indicator of inflation, rose 2.5% year-on-year in August, the month in which the Producer Price Index (PPI) was seen. Which measures wholesale inflation down to 2.3%.
According to official data released today by the Office of National Statistics (ONE), the consumer price index data is 0.2 points lower than the previous month (2.7%), while industrial prices stabilized at 1.9 integer numbers below the June level (4.2%).
In both indicators, the result was lower than expected by analysts who had expected consumer prices to rise by 2.8% and wholesalers by 3.1%.
According to ONE, the rise in the CPI is mainly due to the price development in the food market, such as pork prices, while in the case of industrial prices, it considers the situation to be due to “multiple national and international” factors.
In March, the authorities again set a 3% target for CPI progress in 2022. EFE
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