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China's Inflation Rises More Than Forecast; PPI Inflation At 4-Month High

China's consumer price inflation rose more than expected in August and producer prices advanced on higher raw material costs, data from the National Bureau of Statistics showed over the weekend.

Consumer price inflation accelerated to 1.8 percent in August from 1.4 percent in July. This was the fastest since January and exceeded the expected level of 1.6 percent.

Nonetheless, inflation was well below the government's full year target of around 3 percent.

Food prices fell 0.2 percent, while non-food prices rose 2.3 percent.

On a monthly basis, consumer prices advanced 0.4 percent, faster than the 0.1 percent rise in July. This was the second consecutive increase.

Another report from NBS showed that industrial producer price increased to a 4-month high of 6.3 percent in August from 5.5 percent in July. Prices were forecast to gain 5.4 percent.

Month-on-month, producer prices climbed 0.9 percent.

by RTT Staff Writer

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