BEIJING, Aug. 6 (Xinhua) — China’s consumer price index (CPI), a main gauge of inflation, rose 2.7 percent year on year in July, the highest since September 2022, the National Bureau of Statistics (NBS) said Sunday..
On a monthly basis, the CPI climbed 0.5 percent..
Food prices, which account for nearly one-third of the weight in the CPI calculation, climbed 6.3 percent year on year in July..
Pork prices, a major determinant of CPI change, jumped 20.2 percent year on year last month..
Non-food prices rose 1.9 percent year on year in July..
The core CPI, which excludes the prices of food and energy, edged up 0.8 percent year on year last month..
Producer prices, which measure costs for goods at the factory gate, fell 2.5 percent year on year in July, marking the seventh consecutive month of decline..
On a monthly basis, producer prices edged down 0.5 percent..
NBS senior statistician Dong Lijuan said that the CPI increase was primarily driven by higher food prices, while the core CPI remained stable..
