BEIJING, Sept. 9 -- China's consumer inflation picked up in August, driven by higher food prices, while the factory-gate prices also rose, fueled by rising commodity costs.
Consumer price index (CPI), a main gauge of inflation, accelerated more than expected to a seven-month high of 1.8 percent in August, up from July's 1.4 percent, beating market expectation of 1.6 percent, according to data released by the National Bureau of Statistics (NBS) Saturday.
For the first eight months of the year, CPI climbed 1.5 percent from one year earlier.
The stronger, yet still moderate, inflation remained well below the government's annual inflation regulation target of around 3 percent for 2017.
On a monthly basis, CPI was up 0.4 percent last month.
NBS chief statistician Sheng Guoqing attributed the faster CPI growth to higher food prices as adverse weather pushed up vegetable prices while falling output led to sharp growth in egg prices.
Food prices, the biggest component of the CPI, were up 1.2 percent month on month, NBS said.
Vegetable prices rose 8.5 percent from July as scorching summer and widespread heavy rains increased transportation costs. Egg prices climbed 13.5 percent from July while the prices of pork, a staple meat in China, rose 1.3 percent month on month.
Year on year, food prices edged down 0.2 percent in August, while non-food prices gained 2.3 percent.
Excluding volatile food and energy prices, the core CPI increased 2.2 percent year on year in August, up slightly from July's 2.1 percent. The core CPI has been holding steady at a little above 2 percent since March.
Analysts said the pick-up in consumer inflation is unlikely to continue because of a high comparative base in September 2016 and the fading effects of seasonal factors during the rest of the year.
Jiang Chao, chief economist at Haitong Securities, said the CPI increase would ease to 1.6 percent in September and remain subdued for the whole year.
Producer price index (PPI), which measures costs of goods at the factory gate, rose to a four-month high of 6.3 percent in August, compared with 5.5 percent in July, according to NBS.
PPI growth, which was higher than the market forecast of 5.7 percent, was boosted by increases in the prices of steel, non-ferrous metals, as well as oil and natural gas.
On a month-on-month basis, the index was up 0.9 percent last month.
Producer prices accelerated upward, a significant positive sign for China's economy, which will help drive profits higher and enable companies to process their debt burden a little more easily, Bloomberg chief Asia economist Tom Orlik said.
However, Orlik said factory sector reflation remained vulnerable. The sector breakdown showed factory reflation was benefiting mainly upstream industries, with downstream industries squeezed.
PPI grew 6.4 percent year on year for January-August, unchanged from that in the first seven months.
Orlik expected the central bank to continue dealing with the deleveraging challenge, not to hasten monetary easing.
国际英语资讯:Sudans military council urges national unity to achieve stability, renaissance
国内英语资讯:Gap between Chinas urban and rural parenting styles narrows: survey
喝水的那些事:你做得对吗?
国内英语资讯:UN official reiterates importance of coordinating African initiatives with BRI to spur infra
你需要了解的关于维生素的问题
体坛英语资讯:Serbia, Spain in lead after water polo super finals group stage
体坛英语资讯:Messi should take Argentina break: Kempes
男人爱车胜过自己 保养车比体检重要
体坛英语资讯:China need to overcome pressure to progress in Womens World Cup, says coach
耐克的新鞋子在外网火了,因为真的很雷人……
没工作不读书,这些名人在间隔年都去干嘛了?
苹果或推出中国特色版iPhone
韩国刑法新规:游戏代练可处2年监禁
揭秘:世界上最难翻译的二十个词!
网红就可以免费吃拿要?这个冰淇淋小贩的回应亮了
国际英语资讯:Venezuela urges UN to intervene against U.S. sanctions
国内英语资讯:Lhasa launches 80 new energy buses to protect environment
二十年后,他还记得我
国内英语资讯:Shanghai aims to have full 5G coverage by 2020
芬兰外交部“桑拿外交”获肯定
国内英语资讯:Interview: President Xis letter inspires more contributions to Japan-China friendship -- J
体坛英语资讯:Maradona dismisses Alzheimers rumors
国际英语资讯:U.S.-led airstrike kills 3 IS militants in northern Iraq
父亲节:送给老爸的五大“先进”礼物
国际英语资讯:Jordan, Palestine say no economic offer can replace two-state solution
体坛英语资讯:Venezuelas Figuera to miss rest of Copa America
10种最酷和5种最糟糕的父亲节礼物
国际英语资讯:7.0-magnitude quake strikes off eastern Indonesia, tsunami alert lifted
国内英语资讯:China Focus: Party and state institution reform helps China modernize governance
男人的哭泣方式:Non-crying cry
不限 |
英语教案 |
英语课件 |
英语试题 |
不限 |
不限 |
上册 |
下册 |
不限 |