09 July 2013 04:48 [Source: ICIS news]
SINGAPORE (ICIS)--China’s consumer price index (CPI) increased by 2.7% year on year in June, a new high in the four months from March, official data from the country’s National Bureau of Statistics (NBS) said on Tuesday.
The CPI for the first half of 2013 increased by 2.4% year on year, the data showed.
“The rebound of CPI in June is higher than expectation, [a] major reason for the uptrend is the increase of food prices,” said Yu Qiumei, a senior statistician from NBS.
The consumer prices are not expected to increase significantly in the second half of this year from June and the CPI would remain at a stable level, said an economic analyst.
Meanwhile, the NBS also announced the producer price index (PPI) at a year-on-year decrease of 2.7% in June and a decrease of 2.2% in the first half of this year compared with the previous year.
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