Chinese producer price inflation eases in June, but CPI gains accelerate
HSBC Holdings
545.10p
17:17 17/08/22
-0.85%
-4.70p
Factory gate inflation in the People's Republic of China cooled last month, but continued accelerating at the consumer level.
Banks
3,386.14
17:21 17/08/22
-0.71%
-24.05
FTSE 100
7,515.75
17:25 17/08/22
n/a
n/a
FTSE 350
4,181.47
17:21 17/08/22
n/a
n/a
FTSE All-Share
4,146.49
17:30 17/08/22
n/a
n/a
Standard Chartered
593.00p
17:20 17/08/22
-1.66%
-10.00p
According to China's National Bureau of Statistics, the rate of increase in producer prices in the world's second-largest economy slowed from 6.4% to 6.1%.
Economists had forecast producer price gains of 6.0% for June.
China's Consumer Price Index on the other hand rose at annual rate of 2.5%, which was faster than the 2.1% rise recorded in May.
June's CPI print was also one tenth of a percentage point more than forecast by economists.
Month-on-month however, CPI was flat (consensus: 0.1%).
The People's Bank of China's annual CPI target is for inflation of around 3.0%.