China's consumer prices pick up more than expected in July, up by 0.5%

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China's consumer prices pick up more than expected in July, up by 0.5%
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China's consumer prices rose by a more-than-expected 0.5% in July from a year ago, according to data from the National Bureau of Statistics on Friday.

China's consumer prices rose by a more-than-expected 0.5% in July from a year ago, according to data from the National Bureau of Statistics on Friday.

Core CPI, which strips out food and energy prices, rose by 0.4% year-on-year in July. That's down from 0.6% in June. Analysts polled by Reuters had expected a slight pickup in the consumer price index to 0.3% in July from a year ago, versus 0.2% in June. Prices of pork, a widely consumed food staple in China, surged by 20.4% year-on-year in July. That was the biggest increase since December 2022, according to Wind.

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