Inflation Steady
China’s consumer price index (CPI), a main gauge of inflation, rose 1.5 percent year on year in June, the National Bureau of Statistics (NBS) said on July 10.
The June expansion remained unchanged from May’s reading, and increased from April’s 1.2 percent and March’s 0.9 percent. On a monthly basis, however, the CPI declined 0.2 percent, according to the bureau.
The NBS attributed the monthly decline in the CPI to lower food prices, which dropped 1 percent month on month in June.
Fruit prices dropped 4.2 percent month on month in the same period. Pork and vegetable prices fell 3.4 percent and 1.1 percent, respectively.
Year on year, food prices dropped 1.2 percent in June, while non-food prices rose 2.2 percent.
Jiang Chao, chief economist at Haitong Securities,…