China Inflation Rate at 5-Month Low of 1.9%
Consumer prices in China went up 1.9 percent year-on-year in June of 2016, slowing from a 2 percent rise in May. Although inflation was slightly above market expectations of 1.8 percent, it remained well below government’s 3 percent target for 2016.
7/10/2016 1:40:16 PM
Food prices went up 4.6 percent, lower than a 5.9 percent gain in May: pork grew 30.1 percent (33.6 percent in May) while fresh vegetables fell 6.5 percent (+6.4 percent in May) and fresh frutis dropped 3.4 percent (-7.6 percent in May).
Non-food cost increased 1.2 percent versus May's 1.1 percent rise: clothing prices rose at a slower 1.4 percent (1.5 percent in May) and rent, fuel & utilities inflation was steady at 1.6 percent.
On a monthly basis, consumer prices were down 0.1 percent, better tahn a 0.3 percent decline markets expected but marking the fourth straight month of monthly deflation.
The producer price index dropped by 2.6 percent year-on-year in June, lower than a 2.8 percent decline in the previous month and compared to market expectations of a 2.5 percent fall. The index has been in a negative territory since March 2012.