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China's consumer prices rise at faster pace in August
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China's consumer prices rise at faster pace in August
Sep 8, 2024 7:07 PM

BEIJING (Reuters) - China's consumer prices rose at a faster rate in August, while producer price deflation persisted, as Beijing maintained efforts to reinvigorate domestic demand.

The consumer price index (CPI) grew 0.6% from a year earlier last month, versus a 0.5% rise in July, data from the National Bureau of Statistics (NBS) showed on Monday, below a 0.7% increase forecast in a Reuters poll of economists.

CPI was up 0.4% month-on-month, compared with a 0.5% increase in July and missing an expected 0.5% gain.

The producer price index (PPI) slid 1.8% in August on year, worsening from a 0.8% decline the previous month, and below a forecast 1.4% fall.

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