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China's August CPI rises 1.8%, PPI up 6.3%, both above forecasts

[BEIJING] China's consumer inflation rate accelerated more than expected to 1.8 per cent in August from a year earlier, the National Bureau of Statistics said on Saturday, the first uptick in three months.

The consumer price index (CPI) had been expected to rise 1.6 per cent on-year compared with an increase of 1.4 per cent in July.

Producer price inflation also accelerated more than expected in August, gaining speed for the first time in six months.

The producer price index (PPI) rose 6.3 per cent from 5.5 per cent in July.

Analysts polled by Reuters had predicted the PPI would rise 5.6 per cent in August on an annual basis.