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Expansion of both consumer, producer price indices edging down in June
China s producer and consumer prices registered slower growth in June thanks to the country s recent efforts in stabilizing commodity and raw material prices, leaving more room for macro policy maneuvers in the second half of this year, officials and experts say.
Data released by the National Bureau of Statistics on Friday showed that expansion of both consumer and producer price indices edged down in June. The country s consumer price index, a main gauge of inflation, rose 1.1 percent in June, down from 1.3 percent in May, putting CPI expansion at 0.5 percent year-on-year for the first half of this year.
Published on: Saturday, July 10, 2021
By: AFP
A vendor cuts meat at a market in Shenyang, in China s northeastern Liaoning province.
BEIJING: China’s consumer inflation eased in June on the back of falling pork prices, official data showed Friday, although factory gate costs remained elevated after a recent surge in commodity prices.
The world’s second largest economy has largely bounced back from the coronavirus hit, and factory gate inflation began to ease last month after surging at the highest rate in more than a decade earlier in the year as commodity prices spiked.
Factories so far appear to be absorbing the costs rather than passing them on to consumers, and analysts expect Beijing to protect shoppers from rising costs.