Consumer and Producer Inflation Rebound in China in August
Consumer and producer price inflation in China increased in August, pointing to a recovery in economic data.
Consumer and wholesale price inflation recorded an increase in the Chinese economy in August. The rise in global commodity costs and strong demand for high-tech products limited the impact of domestic consumption weakness.
Producer Price Index Records Above-Expectation Increase
According to data released by the National Bureau of Statistics, the producer price index increased by 3.8 percent year-on-year in August.
Exceeding economists' expectation of a 3.6 percent increase, the PPI also surpassed the 3.5 percent rise seen in July.
Consumer Inflation and Core Data
According to official data, consumer prices recorded a 0.8 percent year-on-year increase in August.
During the same period, core CPI increased by 1 percent year-on-year.
Background of Inflationary Trends
Economists stated that the recovery trend stemmed from a favorable base effect and rising commodity costs.
NBS Chief Statistician Dong Lijuan attributed the movement in inflation to volatility in global commodity prices and seasonal food prices.