March 1, 2021

Inflation in China rises 2.7% for the second consecutive month

The consumer price index (CPI) of China, the main indicator of inflation, rose 2.7% year-on-year in June, an increase identical to that registered in the previous month, according to data published today by the National Bureau of Statistics (ONE) ).

As in the previous month, the main players in this year-on-year increase in prices were food, which rose by 8.3%, explained the director of the Urban Division of the ONE, Dong Yaxiu.

In this sector, the prices of fresh fruits stood out (42.7% year-on-year increase), which is explained not only by the influence of the "extreme climate" on the harvests but also because in June 2018 the prices were lower than the the usual

Another protagonist was pork, one of the products most demanded by Chinese consumers, which continues to suffer the effects of an epidemic of African swine fever that has killed millions of animals, and recorded a price increase of 21%. ,one %.

The increase in non-food prices was 1.4%, one tenth less than the previous month.

This institution also released today the data of the production price index (PPI), a measure of wholesale inflation, which fell by 0.3% year-on-year in June, and returns to the deceleration path after three consecutive months of timid recovery .

In the fifth month of the year, the CPI had risen by 2.7% year-on-year, which represented the highest growth in prices since the same month of 2018, although still below the official target of 3%.

(tagsToTranslate) inflation (t) China (t) ups (t) second (t) consecutive

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