In a sign of steady economic conditions, China’s consumer prices edged upward in June, with the consumer price index (CPI) rising by 0.2 percent compared to the same period last year. The National Bureau of Statistics (NBS) reported on Wednesday that this modest increase reflects a balanced inflation outlook for the world’s second-largest economy.
The core CPI, excluding volatile food and energy prices, remained steady with a 0.6 percent increase, matching the figure from May. This stability indicates consistent underlying inflationary pressures, offering predictability for businesses and investors navigating the market.
On a month-to-month basis, the CPI saw a slight decline of 0.2 percent in June due to seasonal factors. This decrease was marginally larger than the 0.1 percent drop recorded in May, suggesting minor fluctuations in consumer prices tied to seasonal demand changes for certain goods and services.
Additionally, the producer price index (PPI), which measures costs for goods at the factory gate, showed signs of improvement. The decline in PPI narrowed compared to previous months, hinting at potential stabilization in production costs within the Chinese mainland’s industrial sector.
Economists view these figures as indicative of China’s ongoing efforts to balance economic growth with price stability amid global economic uncertainties. The data serves as a critical barometer for policymakers formulating strategies to sustain momentum in the country’s post-pandemic recovery.
Reference(s):
cgtn.com
