Guangzhou (JLC), August 9, 2023 – China's consumer price index (CPI), a main gauge of inflation, dropped 0.3% year on year in July 2023, data from the National Bureau of Statistics (NBS) shows on Wednesday.
However, the July CPI gained 0.2% compared with June.
In Jan-July 2023, the CPI was 0.5% higher than the corresponding period of 2022, the NBS data shows.
Meanwhile, China's producer price index (PPI), which measures costs for goods at the factory gates, dropped 4.4% on year in July, the NBS data shows.
On a month-on-month comparison, the July PPI dropped 0.2%.
In Jan-July 2023, the PPI was 3.2% lower than the corresponding period of 2022, the NBS data shows.
