China's Inflation Rate Jumps to 2.0% in August

In August, the consumer price index (CPI) in China went up by 2.0 percent year-on-year. The prices grew by 2.1 percent in cities and 1.8 percent in rural areas. The food prices went up by 3.4 percent, while the non-food prices increased by 1.4 percent. The prices of consumer goods went up by 2.1 percent and the prices of services grew by 2.0 percent., National Bureau of Statistics of China 9/10/2012 12:57:13 PM

In August, the month-on-month change of consumer prices was up by 0.6 percent, prices in cities and rural areas went up by 0.6 percent, simultaneously. The food prices increased by 1.5 percent, the non-food prices rose by 0,1 percent. The prices of consumer goods increased by 0.7 percent, and the prices of services increased by 0.2 percent.

Prices for tobacco and liquor went up by 3.0 percent year-on-year, of which, that of liquor was up by 6.5 percent and tobacco was up by 0.5 percent. Prices for clothing rose by 3.1 percent year-on-year. The prices for clothes went up by 3.5 percent while the prices for shoes increased 1.9 percent. Prices for household facilities, articles and maintenance services went up by 1.8 percent year-on-year.Prices for health care and personal articles grew by 1.3 percent year-on-year. Prices for transportation and communication dropped 0.8 percent year-on-year.Prices for residence went up by 2.2 percent year-on-year. Of which, prices for house renting, increased 3.0 percent.

According to estimation, in the 2.0 percent growth in August, the carryover effect of last year’s prices rising accounted for 0.6 percentage points, while new prices rising factors in this year accounted for 1.4 percentage points.