China CPI Inflation In July At 3.3%; China PPI Inflation In July At 4.8%
China Consumer Price Index was up 3.3% in July, right at the consensus. June reading was at 2.9%. China Producer Price Index was up 4.8% in July vs. 6.0% consensus and 6.4% June reading.
All of the consumer price increase came from food. PPI eased a bit on weaker dollar and lower commodity prices.
Consumer inflation could start to erode real purchasing power.
Chart 1. Producer & Consumer Price Indexes
Source: Bloomberg
