China Inflation Rebounds in August, Beating Expectations

Features Dow Jones Newswires

China's consumer inflation rose to a seven-month high, as falls in food prices softened, dragging less on the overall index, official data showed Saturday.

Continue Reading Below

China's consumer-price index increased 1.8% in August from a year earlier, compared with a 1.4% gain in July, the National Bureau of Statistics said.

Food prices edged down 0.2% on year, after dropping 1.1% in July. Nonfood prices grew 2.3% on year, compared with 2.0% on-year growth in July.

The key inflation reading outpaced a 1.6% gain forecast by economists polled by The Wall Street Journal.

Policy makers in Beijing hope to keep inflation under about 3% this year.

On a month-over-month basis, the CPI rose 0.4% in August from a month earlier. In July, the index edged up 0.1% from the previous month.

Continue Reading Below

The producer-price index climbed 6.3% in August compared with a 5.5% on-year increase in July.

The reading for factory-gate prices came in faster than a median forecast for a 5.7% increase by the economists.

The PPI increased 0.9% in August from a month earlier. In July, it edged up 0.2% from the preceding month.

--Liyan Qi

(END) Dow Jones Newswires

September 08, 2017 21:57 ET (01:57 GMT)