Chinese Inflation Accelerates To 2.8% In August From 2.3% Year Ago - Statistics Bureau

Chinese Inflation Accelerates to 2.8% in August From 2.3% Year Ago - Statistics Bureau

BEIJING (UrduPoint News / Sputnik - 10th September, 2019) China's consumer prices grew 2.8 percent year-on-year in August, unchanged from July and up from 2.3 percent growth in August 2018, the country's National Bureau of Statistics (NBS) revealed on Tuesday.

According to NBS data, inflation in the previous two months was the highest since February last year.

The NBS attributes accelerated inflation primarily to higher food prices, in particular pork and fresh fruit.

Food prices surged 10.0 percent year-on-year in August, other consumer products by 1.1 percent.

Meanwhile, producer prices in August increased by 0.8 percent year-on-year.

According to the official forecast, inflation in China in 2019 will accelerate to about 3 percent from 2.1 percent in 2018.

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