Great news on the price front in the Chinese mainland! Official data from the National Bureau of Statistics shows that in June the consumer price index (CPI) ticked up by 0.1% year-on-year – the first rise in five months. This reversal follows a period of decline and hints that measures to boost domestic demand might be taking effect. 😊
Looking closer, when you strip away the volatile food and energy prices, the core CPI surged by 0.7% year-on-year, marking its strongest rise in 14 months. Experts point to a rebound in industrial consumer goods as a key driver behind this shift. In fact, the decline in industrial goods prices narrowed from 1.0% in May to 0.5% in June, giving the overall CPI an extra boost.
On the flip side, the producer price index (PPI), which reflects factory-gate prices, dropped by 3.6% year-on-year – a further dip from May’s 3.3% decline – and remained 0.4% lower on a month-to-month basis. However, not all sectors are in a slump. Prices for gasoline and electric vehicles enjoyed modest increases, and several high-tech sectors such as integrated circuit packaging, wearable smart devices, microwave communication equipment, aerospace equipment, and servers even saw year-on-year price gains. 🚀
This mixed bag of data paints an evolving economic picture in the Chinese mainland, giving students, professionals, and news enthusiasts fresh insights into current trends. Stay tuned as we continue to break down these developments in easy, bite-sized updates!
Reference(s):
cgtn.com
