China’s Consumer Prices Rise 0.6% in August

China's consumer prices continued to rise in August amid a sustained recovery of domestic demand, official data showed today. The consumer price index (CPI), a main gauge of inflation, was up 0.6% year on year last month (August 2024), quickening from the 0.5% increase in July, the National Bureau of Statistics (NBS) said in a statement. Meanwhile, China's producer price index (PPI), which measures costs for goods at the factory gate, went down 1.8% year on year in August, the National Bureau of Statistics (NBS) said today. The decline was bigger than a 0.8% year-on-year dip registered in July. On a monthly basis, the PPI edged down 0.7%, widening from a 0.2% decrease a month earlier, the data showed. NBS statistician Dong Lijuan attributed the PPI decrease to insufficient market demand and the downward trend in prices of some international commodities. From January to August 2024, the average PPI decreased by 1.9% from a year ago. Source: Oman News Agency