China's consumer prices see mild growth in July
Source: Xinhua | 2024-08-09 | Editor:Rachel
China's consumer prices gained mild growth in July as the domestic consumer demand continued to expand, official data showed Friday.
The consumer price index (CPI), a main gauge of inflation, was up 0.5 percent year on year in June, slightly higher than the 0.2 percent increase in June, said the National Bureau of Statistics (NBS).
As consumer demand continued to recover, coupled with the impact of high temperature and heavy rainfall in some areas, the CPI shifted from a month-on-month decline to an increase in July, with a larger year-on-year growth rate, NBS statistician Dong Lijuan said.
Due to the lack of market demand and the decline in the prices of some international commodities, China's producer price index was down 0.8 percent year on year in July, the same as the previous month.
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