China's CPI up 6.5% in July

 

China's Consumer Price Index (CPI), a main gauge of inflation, accelerated to 6.5 percent in July, the National Bureau of Statistics (NBS) said on Tuesday.

China's inflation accelerated to a 37-month high in July on surging food costs, putting the government in a tough position with worsening global liquidity in sight.

The stubbornly high inflation rate has been driven by increasing food costs, which rose by 14.8 percent in July from a year ago. The price of pork, a staple food in China, soared by nearly 57 percent in July.

On a month-on-month basis, the CPI increased 0.5 percent over that of June.

 

China's PPI jumps 7.5% in July

China's Producer Price Index (PPI), a major measure of inflation at wholesale level, rose 7.5 percent in July year-on-year, the National Bureau of Statistics said Tuesday.

July's PPI growth was even greater than June's 7.1 percent increase, the NBS said in a statement on its website.

Producer purchase prices rose by 11 percent year-on-year in July, but rose by just 0.1 percent on month-on-month basis, according to the NBS.

Prices of production materials in July rose 8.4 percent year-on-year, but remained flat on a month-on-month basis.

July slowdown, but economy is still on track

 

China's major economic indicators slowed in July, but signaled the country's growth engine remains on track, analysts said.

The year-on-year growth in industrial output decelerated slightly to 14 percent in July, 1.1 percentage points lower than in June, the National Bureau of Statistics announced on Tuesday.

However, that figure is still higher than the historic low of 13.3 percent registered in May. Industrial production grew 14.3 percent from January to July, maintaining the pace set in the first half of the year.

 

Urban fixed asset investment increases by 25.4%

Fixed asset investment, a primary driver of economic growth, soared by 25.4 percent year-on-year during the first seven months of the year to 15.24 trillion yuan ($2.36 trillion).

That was slightly lower than the reading of 25.6 percent recorded in June.