BEIJING: Sugar factory inflation rose higher than expected in July, data showed on Monday, as rising commodity prices offset government measures to reduce costs.
The world’s second-largest economy has largely recovered from strict coronavirus lockdowns last year, but a fresh spike in cases of highly permeable delta The variant has raised concerns about recovery.
This has raised concerns that inflation could rise further if the lockdown in some parts of the country leads to supply problems.
The producer price index (PPI), which measures the cost of goods at the factory gate, rose to 9.0 per cent in the same year as May, a 13-year high. National Bureau of Statistics.
This is due to the government’s decision to increase export duty on some iron and steel products, temporarily rebate on pig iron and scrap steel and revoke export tax exemption for some steel products, to reduce the price hike in order to increase supply in the domestic market. Despite the footsteps of .
“The increase in the prices of industrial products expanded slightly, influenced by a sharp increase in the cost of crude oil, coal and related products,” it said. nbs senior statistician dong lijuan in a statement.
While the PPI remains high, consumer inflation ticked down to 1.0 per cent, with officials stressing their work to stabilize prices in the wake of recent disasters including floods in central China and companies pushing the increase rather than passing it on to consumers. revealed to be absorbed.
The modest fall in the Consumer Price Index (CPI), a key gauge of retail inflation, came on the back of easing in food prices, as pork prices fell 43.5 percent year-on-year, supported by China’s pork stocks and rising supplies .
This was also when “extreme weather such as thunderstorms and heavy rainfall in some areas” pushed up the cost of fresh vegetable production, storage and transportation.
by/donate
The world’s second-largest economy has largely recovered from strict coronavirus lockdowns last year, but a fresh spike in cases of highly permeable delta The variant has raised concerns about recovery.
This has raised concerns that inflation could rise further if the lockdown in some parts of the country leads to supply problems.
The producer price index (PPI), which measures the cost of goods at the factory gate, rose to 9.0 per cent in the same year as May, a 13-year high. National Bureau of Statistics.
This is due to the government’s decision to increase export duty on some iron and steel products, temporarily rebate on pig iron and scrap steel and revoke export tax exemption for some steel products, to reduce the price hike in order to increase supply in the domestic market. Despite the footsteps of .
“The increase in the prices of industrial products expanded slightly, influenced by a sharp increase in the cost of crude oil, coal and related products,” it said. nbs senior statistician dong lijuan in a statement.
While the PPI remains high, consumer inflation ticked down to 1.0 per cent, with officials stressing their work to stabilize prices in the wake of recent disasters including floods in central China and companies pushing the increase rather than passing it on to consumers. revealed to be absorbed.
The modest fall in the Consumer Price Index (CPI), a key gauge of retail inflation, came on the back of easing in food prices, as pork prices fell 43.5 percent year-on-year, supported by China’s pork stocks and rising supplies .
This was also when “extreme weather such as thunderstorms and heavy rainfall in some areas” pushed up the cost of fresh vegetable production, storage and transportation.
by/donate
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