China's CPI up 0.6% in August

    Xinhua | Updated: 2024-09-09 09:32
    Share
    Share - WeChat

    China's consumer prices continued to rise in August amid a sustained recovery of domestic demand, while declines in producer prices indicated more time needed for market sentiment to get fully restored.

    The consumer price index (CPI), a main gauge of inflation, was up 0.6 percent year-on-year last month, quickening from the 0.5 percent increase in July, the National Bureau of Statistics (NBS) said in a statement. On a monthly basis, the CPI grew 0.4 percent in August, slightly lower than the 0.5 percent increase in July.

    NBS statistician Dong Lijuan attributed the price changes last month to factors including high temperatures and frequent rainfall in the summer.

    In breakdown, food prices, up 2.8 percent year-on-year and 3.4 percent on a monthly basis, became the major contributor to the overall price increase. Prices of eggs, vegetables and fruits gained because of downpours in multiple regions, and pork prices also climbed with reduced production capacity and strong market expectations.

    Non-food prices remained moderate due in part to falling demand for travel and hospitality as summer vacation was coming to an end.

    NBS data also showed China's producer price index (PPI), which measures costs for goods at the factory gate, went down 1.8 percent year-on-year in August, bigger than a 0.8 percent year-on-year dip registered in July.

    The PPI decrease was due to insufficient market demand and the downward trend in prices of some international commodities, Dong said.

    Analysts believe the consumer and producer prices in August point to warming domestic demand, while also calling for more to further improve market expectations.

    China in March unveiled a program of promoting large-scale equipment upgrades and consumer goods trade-ins in an effort to stimulate domestic demand and shore up the economy. Under the program, factories are encouraged to replace old machines with advanced new ones, and individual consumers can enjoy subsidies on automobiles and home appliances, among others.

    Recently, the central government added policy support for the program, arranging 150 billion yuan ($21 billion) of ultra-long special treasury bonds to help local policy implementation. Multiple regions including Hunan, Guangdong and Shanghai have rolled out specific plans.

    Feng Lin, a researcher of Golden Credit Rating, said the government measures will boost the growth of consumer goods by 2 percentage points this year, making consumption a stronger economic driver in the second half.

    Previously, the National Development and Reform Commission predicted this round of upgrades of automobiles and home appliances would generate market demand worth 1 trillion yuan.

    On the industrial side, although the falling PPI suggested insufficient demand in August, analysts believe more bright spots are emerging.

    Wen Tao, an analyst at the China Logistics Information Center, said the manufacturing sector gathered steam with stronger new growth drivers, such as the production of equipment and high-tech products, because of industrial resilience and effective government policies.

    With the development of such new growth drivers, China has also seen steady improvement of industrial structure, Wen said.

    1 2 Next   >>|
    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    亚洲AV无码国产丝袜在线观看| 日本公妇在线观看中文版 | 中文字幕亚洲无线码| 国产亚洲精品无码专区| 亚洲欧洲自拍拍偷午夜色无码| 中文字幕无码无码专区| 国产成人AV片无码免费| 亚洲中文字幕无码久久2020| 中文www新版资源在线| 欧美 亚洲 日韩 中文2019| 88久久精品无码一区二区毛片| 亚洲乱码无码永久不卡在线| 免费无码国产在线观国内自拍中文字幕 | 色AV永久无码影院AV| 国产AⅤ无码专区亚洲AV| 中文字幕日韩一区二区三区不卡| 手机在线观看?v无码片| av潮喷大喷水系列无码| 色综合久久中文字幕无码| 亚洲AV无码欧洲AV无码网站| 亚洲中文字幕不卡无码| 国产av无码专区亚洲av果冻传媒| 亚洲欧美日韩中文字幕一区二区三区| 欧美日韩中文国产一区发布| 无码AV一区二区三区无码| 911国产免费无码专区| AV无码免费永久在线观看| YY111111少妇无码理论片| 国产午夜鲁丝无码拍拍| 国产Av激情久久无码天堂| 国产v亚洲v天堂无码网站| 成年免费a级毛片免费看无码| 毛片无码免费无码播放| 变态SM天堂无码专区| 97无码免费人妻超| 国产精品亚洲专区无码WEB| 久久久久久国产精品无码下载 | 国产久热精品无码激情| 97无码免费人妻超| 中文字字幕在线一本通| 日韩欧美中文亚洲高清在线|