Chinese consumer prices increase above expectations in July

By Emir Yildirim

ISTANBUL (AA) – China’s consumer prices climbed 0.5% on an annual basis in July, above the market expectation of 0.3%, Beijing-based state news agency Xinhua reported on Friday, citing official figures.

The figure rose from a 0.2% increase in June, according to Investing.com.

On a monthly basis, China’s consumer prices climbed 0.5% above the 0.3% market expectation, from a 0.2% decline the previous month.

The monthly decline from the previous month was shifted to a yearly growth, as Chinese consumer demand continued to recover, in addition to high temperatures and heavy rainfall, Xinhua’s news report revealed.