China June PPI up 4.7%, tops forecasts, CPI up 1.9%

[BEIJING] China's annual consumer inflation rate rose slightly to 1.9 per cent in June, in line with expectations, official data showed on Tuesday.

The consumer price index (CPI) had been expected to rise 1.9 per cent from a year earlier, according to a Reuters poll, edging up from a 1.8 per cent gain in May.

The producer price index (PPI) - a gauge of industrial profitability - rose 4.7 per cent in June from a year earlier, accelerating from the previous month's increase of 4.1 per cent, the National Bureau of Statistics (NBS) said.

Analysts polled by Reuters had predicted producer inflation would pick up to 4.5 per cent in June. June's reading was the highest in six months.

China has set its 2018 consumer inflation goal at "around 3 per cent", in line with last year's target.

REUTERS