China’s consumer price index (CPI), the main gauge of inflation, rose 2.5 percent year on year in August, the National Bureau of Statistics (NBS) said on Friday.
On a monthly basis, the CPI remained stable. It had increased by 0.5% in July and fell by 0.1% in August, thanks to efforts to counter the impact of COVID-19 and extreme weather conditions and to ensure sufficient supply and stable prices. , noted BES senior statistician Dong Lijuan.
Food prices rose 0.5% month on month, pushing monthly consumer inflation up regarding 0.1 percentage point.
The price of pork, a staple meat in China, rose 0.4% in August, registering a decline of 25.2 percentage points from the previous month, as activity returned to normal. pig slaughter and the seasonal decline in consumer demand, according to Ms. Dong.
The prices of non-food products recorded a growth of 1.7% over one year, leading to an increase in annual consumer inflation of around 1.38 percentage points.
Gasoline and diesel prices increased annually by 20.2% and 21.9% respectively.
The core CPI, which excludes food and energy prices, rose 0.8% year on year in August, unchanged from growth in July.
Data released on Friday also showed China’s producer price index, which measures the cost of goods leaving the factory, rose 2.3% year-on-year in August.
