ExplainerChina inflation: 4 takeaways from August data as consumer prices returned to positive territory
China’s consumer price index (CPI) rose by 0.1 per cent from a year earlier in August, still well short of the control target of around 3 per cent growth for 2023Producer price index (PPI) fell for 11th month in a row in August, but the 3 per cent fall from a year earlier narrowed from the decrease of 4.4 per cent in JulyChina inflationAndrew MullenPublished: 12:31pm, 11 Sep, 2023Why you can trust SCMP
1. China’s deflation pressure eases
China’s consumer prices returned to positive territory in August after the consumer price index (CPI) increased by 0.1 per cent in August from a year earlier, up from a fall of 0.3 per cent in July, according to data released on Saturday.
China’s headline CPI inflation turned positive in August “on narrowed goods price deflation, thanks to rising crude oil prices”, said analysts at Goldman Sachs.
Beijing has set a CPI control target of around 3 per cent growth for 2023.