China CPI inflation picks up more than expected in July, PPI shrinks
Investing.com-- Chinese consumer price index inflation grew more than expected in July, coming after a series of unexpected interest rate cuts by the People’s Bank, while producer price index inflation shrank at a similar pace as the prior month.grew 0.5% year-on-year, data from the National Bureau of Statistics showed on Friday. The reading was slightly above expectations for growth of 0.3%, and picked up from the 0.2% seen in the prior month.
But Friday’s reading also comes after Beijing vowed in July to roll out more supportive measures for the economy, especially those aimed at boosting consumer demand.
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