China Jun CPI +1.5% on Year; Market Expected +1.5%

?BEIJING--China's consumer inflation in June remained the same as in May as slower growth in non-food prices was offset by smaller drop in food prices, official data showed Monday.

China's consumer price index increased 1.5% in June from a year earlier, compared with a 1.5% gain in May, the National Bureau of Statistics said.

Food prices declined 1.2% compared with the same period a year ago, after a 1.6% drop in May. Non-food prices rose 2.2% from a year ago, after rising 2.3% in May.

The key inflation reading matched a forecast for a 1.5% CPI gain from a Wall Street Journal poll of economists.

On a month-over-month basis, CPI fell 0.2% in June. In May, it edged down 0.1% from the previous month.

Beijing hopes to keep inflation under about 3% this year.

China's June producer prices rose from a year earlier for the 10th straight month. The producer price index climbed 5.5% in June compared with a 5.5% on-year increase in May.

The reading for factory-gate prices matched a forecast for a 5.5% increase from the poll of economists.

The PPI decreased 0.2% in June from a month earlier. In May, it dropped 0.3% from the preceding month.?

-- Grace Zhu

(END) Dow Jones Newswires

July 09, 2017 22:07 ET (02:07 GMT)