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
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Gen Z is relying on debt more than Millennials did at this age
Trade association survey shows 79% of US biotech companies have contracts with Chinese firms
Hong Kong woos Saudi money in attempt to revive stock market
Squeeze on UK job market eases in April, recruiters say
US will halt artillery supplies to Israel if it attacks Rafah: Biden
China’s factory glut alarms the world but there’s no quick fix