China’s inflation slows, CPI up 6.2% in August

09 September 2011 05:13  [Source: ICIS news]

GUANGZHOU (ICIS)--China’s inflation decreased slightly in August as its consumer price index (CPI) grew by 6.2% year on year in the month, following a three-year high of 6.5% posted in June, official data said on Friday.

Its producer price index (PPI), a measure of the wholesale price, expanded by 7.3% year on year in August, down from 7.5% in July, data published by the National Bureau of Statistics (NBS) showed.

The CPI and PPI increased by 5.6% and 7.1% year on year respectively in the January-August period, NBS said.

On a year-on-year base, the purchase price of fuel and raw chemicals rose by 12.7% and 13.4% respectively in August.

Analysts said inflation had passed its peak and the country is expected to slightly ease its tight monetary policies in the fourth quarter.

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By: Fanny Zhang
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