Guangzhou (JLC), September 11, 2023 – China's consumer price index (CPI), a main gauge of inflation, rose 0.1% year on year in August 2023, data from the National Bureau of Statistics (NBS) showed on September 9.
On a month-on-month comparison, the August CPI gained 0.3%.
The August data showed signs of an easing of deflationary pressure.
In January-August 2023, the CPI was 0.5% higher than the corresponding period of 2022, the NBS data showed.
Meanwhile, China's producer price index (PPI), which measures costs for goods at the factory gates, dropped 3.0% on year in August, after a 4.4% contraction seen in July, the NBS data showed.
On a month-on-month comparison, the August PPI gained 0.2%.
In January-August 2023, the PPI was 3.2% lower than the corresponding period of 2022, the NBS data showed.
