BEIJING (Reuters) -China's consumer prices slid in August while producer deflation eased, as policymakers tried to rein in excessive competition and price cuts in key industrial sectors.

The consumer price index was down 0.4% last month from a year earlier, National Bureau of Statistics data showed on Wednesday, missing the Reuters poll forecast of a 0.2% dip. It was unchanged in July.

On a monthly basis, CPI was unchanged versus a 0.4% increase in July, and compared with forecasts for a 0.1% uptick.

The producer price index dropped 2.9% year-on-year in August, narrowing from a 3.6% decline in the previous month. Economists had projected a 2.9% fall.