China annual inflation rate rose 2.3 percent in July, the same as in the previous month. The politically sensitive food prices eased to 3.6 percent, from 3.7 percent in June, while non-food prices grew 1.6 percent after gaining 1.7 percent a month ago.
Among food prices, the highest increases came from cost of fresh fruit (20.1 percent) and egg (19.5 percent). Prices of pork declined 3.6 percent from a 2.7 percent drop last month, while those of fresh vegetables were down 1.6 percent compared with a 1.8 percent fall in June.
Prices of clothing remained stable from last month’s figure of 2.6 percent. Healthcare and personal products rose 1.4 percent, slightly down from 1.3 percent gain in June. Cost of household equipment were a bit lower at 1.1 percent from 1.2 percent in June. Cost of transport and communication was up 0.7 percent from a 0.6 percent increase a month ago. Prices of leisure, cultural goods and education were unchanged from June's 2.1 percent. Housing prices were up 2.0 percent, rental and utilities costs increased 2.8 percent and 1.1 percent respectivelly.
For 2014, the government has set inflation around 3.5 percent.
Month-over-month, consumer prices accelerated to 0.1 percent in July compared to a 0.1 percent fall in the preceding month. Producer prices fell by 0.9 percent annually, improving from a 1.1 percent drop in June.
8/9/2014 12:21:37 PM