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10.08.2015 08:18 Chinese consumer price index rises at annual rate of 1.6% in July

The Chinese National Bureau of Statistics released its consumer and producer price inflation data for China on Sunday. The Chinese consumer price index (CPI) rose at annual rate of 1.6% in July, exceeding expectations for a 1.5% increase, after a 1.4% gain in May.


The increase was driven by rises in food and non-food prices. Food prices rose at an annual rate of 2.7% in July, while non-food prices increased 1.1%.


On a monthly basis, consumer price inflation increased 0.3% in July, after a flat reading in June.


The Chinese producer price index (PPI) dropped 5.4% in July, missing forecasts of a 5.0% fall, after a 4.8% decline in June. It was the biggest decline since October 2009.

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