In July this year, China's producer price index (PPI) decreased by 0.9 percent year on year and was down 0.1 percent month on month, according to data released by China's National Bureau of Statistics (NBS) on August 9. Meanwhile, in July Chinese industrial producers' purchase prices were down 1.1 percent year on year and remained unchanged from the previous month. In the first seven months of this year, the average producer price index (PPI) decreased by 1.6 percent, while industrial producers' purchase prices were down 1.9 percent during the given period, both year on year.
In July, the PPI for capital goods decreased by 1.2 percent year on year and was down 0.1 percent from the previous month. Specifically, in July this year the PPI for the domestic raw material industry was down 0.8 percent year on year and rose by 0.1 percent month on month, while the index for the processing industry was down 1.2 percent year on year and decreased by 0.2 percent month on month.
Meanwhile, China's consumer price index (CPI) in July witnessed a year-on-year increase of 2.3 percent, while it was up 0.1 percent month on month. The average CPI during the January-July period this year was up 2.3 percent year on year.
