China Annual Inflation Surges to 2.7% in June


In June, Chinese consumer price index (CPI) went up by 2.7 percent year-on-year. The main driver behind acceleration were food prices which increased by 4.9 percent.

The prices grew by 2.6 percent in cities and 2.8 percent in rural areas. The prices of consumer goods went up by 2.6 percent and the prices of services grew by 2.7 percent.

In June, food prices went up by 4.9 percent year-on-year, affecting nearly 1.59 percentage points increase in the overall price level. Of which, the prices of meat, poultry and related products went up by 4.8 percent, fresh vegetables went up by 9.7 percent, fresh fruits, up by 11.4 percent, grain, up by 5.1 percent, aquatic products up by 3.1 percent.

Prices for tobacco and liquor went up by 0.3 percent year-on-year. Prices for clothing rose by 2.3 percent year-on-year. Prices for household facilities, articles and maintenance services went up by 1.5 percent. Prices for health care and personal articles grew by 1.4 percent. Prices for transportation and communication went down by 0.7 percent. Prices for recreation, education, culture articles and services grew by 1.4 percent. Prices for residence went up by 3.1 percent.

According to estimation, in the 2.7 percent growth in June, the carryover effect of last year’s prices rising accounted for 1.9 percentage points, while new prices rising factors in this year accounted for 0.8 percentage point.

On average from January to June, the overall consumer prices were up by 2.4 percent over the same period of the previous year.

In June, the consumer prices kept at the same level (the amount of change was 0, similarly hereinafter) month-on-month. Of which, prices in cities kept at the same level, and that in rural areas increased 0.1 percent. Both the food prices and the non-food prices kept at the same level. The prices of consumer goods decreased 0.1 percent, and the prices of services increased 0.2 percent.

China Annual Inflation Surges to 2.7% in June


National Bureau of Statistics | anna@tradingeconomics.com
7/9/2013 8:11:28 AM