Consumer inflation in China picks up
The Consumer Price Index, the main gauge of inflation, climbed to 1.4 percent in June from 1.2 percent in May, driven largely by the 1.9 percent year-on-year growth in food prices, the National Bureau of Statistics said.
During the first six months of the year, the CPI rose 1.3 percent from a year earlier, much less than the annual targeted ceiling of 3 percent. The factory gate price, or the Producer Price Index, further contracted by 4.8 percent last month compared with a decline of 4.6 percent in May, the NBS said.
The 40-month consecutive PPI decline indicated intensified deflation in the industrial sector, related to the sharp drop in global commodity prices and weak demand. ■