Inflation in China reaches highest level in last 2 years


August 10, Fineko/ Consumer inflation in China reached its highest level in two years due to a rise in pork prices in July, while weak consumer demand restrained overall price pressure.

ABC.AZ reports that according to the National Bureau of Statistics of China, the consumer price index rose by 2.7% last month, and pork prices by 20.2%. The forecast of economists who took part in the Bloomberg survey was that annual inflation in the country would be 2.7%.

Producer price inflation fell from 6.1% in June to 4.2% in July as a result of weakening commodity prices.