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.
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.
Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy
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