The stock market day: China’s inflation accelerates

The stock market day
China's inflation accelerated

09.09.2024, 06:32

The Increase in consumer prices in China has accelerated to its fastest pace in six months due to weather-related food price increases. The consumer price index rose 0.6 percent year-on-year last month, compared with a 0.5 percent rise in July, data from the National Bureau of Statistics (NBS) showed. But that is below economists' forecast of 0.7 percent. Extreme weather this summer, from deadly floods to sweltering heat, have pushed up prices of agricultural products and contributed to accelerating inflation. In August, food prices rose 2.8 percent year-on-year. Core inflation, which includes volatile food and energy prices, was 0.3 percent in August, up from 0.4 percent in July.