China’s CPI up 0.6% YoY in August

By Aya Anwar On Sep 9, 2024

The Hong Kong Observation Wheel, Two International Finance Center (IFC2) and other buildings in Hong Kong, China (Photo Credit: Paul Yeung/Bloomberg)

China’s consumer price index (CPI) went up by 0.6 per cent year-on-year (YoY) in August, signalling a continued recovery in domestic demand, according to official data released on Monday. The CPI grew by 0.4 per cent in August on monthly basis, slightly lower than the 0.5 per cent increase recorded in July.

This rise in the CPI, a key measure of inflation, marked an acceleration from July’s 0.5 per cent growth, as reported by the National Bureau of Statistics (NBS).

NBS statistician Dong Lijuan attributed the price changes to high temperatures and frequent rainfall during the summer. The statement came during September.

Attribution: China Daily

Subediting: M. S. Salama