China’s consumer price index (CPI), a key measure of inflation, rose by 0.2 percent year-on-year in June, according to data released by the National Bureau of Statistics (NBS) on Wednesday. This modest uptick suggests that consumer prices in China are stabilizing amidst global economic fluctuations.
The core CPI, which excludes volatile food and energy prices, remained steady with a 0.6 percent increase, unchanged from May. This stability indicates consistent consumer demand in essential goods and services sectors.
On a monthly basis, the CPI experienced a slight decline of 0.2 percent in June, a marginally larger drop compared to the 0.1 percent decrease in May. The NBS attributed this dip to seasonal factors affecting certain food and service prices during the month.
The data reflects a controlled inflation environment in China, providing policymakers with flexibility to implement measures that support economic growth without the immediate concern of rising consumer prices. Economists note that maintaining stable inflation is crucial for sustaining consumer confidence and spending.
As China’s economy navigates the complexities of global economic pressures, these figures offer insight into the country’s economic resilience. Market analysts will closely monitor upcoming economic indicators to gauge future trends in inflation and economic performance.
Reference(s):
cgtn.com
