China's National Bureau of Statistics has just released highly anticipated inflation data for August. China’s consumer price index or CPI, a main gauge of inflation, grew 2.6 percent year on year in August, slightly lower than July. Food prices, which account for nearly one-third of the weighting in China’s CPI, increased 4.7 percent year on year.
Meanwhile, China’s CPI in the past eight months grew 2.5 percent year on year. Chinese finance officials are hoping to hold this year’s consumer inflation at around 3.5 percent.
The data also shows China’s producer price index, which measures wholesale inflation, fell 1.6 percent year on year in August.
Meanwhile, China’s CPI in the past eight months grew 2.5 percent year on year. Chinese finance officials are hoping to hold this year’s consumer inflation at around 3.5 percent.
The data also shows China’s producer price index, which measures wholesale inflation, fell 1.6 percent year on year in August.
