China recorded a 6.2% year-on-year growth in the consumer price index (CPI) in August, a slight decrease from the 6.5% increase in July, according to the National Bureau of Statistics (NBS).
The inflation figures in August beat the average estimate of 6.1% by 22 chief economists from domestic and foreign financial institutions.
According to the NBS, the carryover effect accounted for 2.7 percentage points of the CPI increase. Food prices rose 13.4%, while non-food prices were up three percent, and the prices of consumption goods increased 7.3%.
The CPI in urban areas rose 5.9% year-on-year while that in rural areas increased by 6.7%.
The rise in food prices contributed 4.02 percentage points to the rise in the CPI. Among the various food items, grain prices rose 12.2%, contributing 0.33 percentage point to the increase in the CPI.
Prices of poultry and related products increased 29.3% year-on-year, contributing 1.89 percentage points to the rise in the CPI.
Pork and egg prices rose 45.5% and 16.3% year-on-year, respectively accounting for 1.27 percentage points and 0.14 percentage point of the increase in the CPI.
Seafood and fruit prices rose 14.7% and four percent, contributing 0.33 percentage point and 0.07 percentage point to the rise in the CPI.
Prices of tobacco and wine increased 2.9% year-on-year, of which the price of wine was up by 6.8%.
Prices of apparel and related products increased 2.9% year-on-year, of which the price of clothing increased 3.2%, while that of shoes rose 1.1%.
The prices of home appliances and maintenance services rose 2.8%, of which the prices of durable goods rose 0.7%.
The prices of healthcare and personal products increased 4.1% year-on-year, of which the prices of Chinese medicine materials and drugs were up 14.2%.
The prices of automobile fuel and automobile components increased 14.9% year-on-year, while the price of automobile maintenance services increased 4.5%.
Residents had to deal with a 5.5% year-on-year rise in prices, of which water, electricity and energy prices rose 4.4%, while private housing rentals increased 3.8%.
Food prices in August rose 0.6% from July, contributing 0.19 percentage point to the rise in the CPI. The prices of poultry and related products rose 1.5% month-on-month.
Source:21cbh