china food inflationmsci world ticker

Market supply and demand are expected to keep a balance with the accelerated recovery of economic activities and implementation of government measures to guarantee supplies and keep prices stable, said Wen. Excluding food and energy, the core CPI rose 0.5 percent year on year, down from 0.9 percent in June, according to Dong Lijuan, a senior statistician with the NBS. On a monthly basis, overall producer prices gained 0.4 percent as industrial production continued to pick up and market demand gradually warmed, Dong said, adding that rising prices of international commodities also played a role. The generally stable inflation gives the government leeway to maneuver monetary policy in the coming months, with its focus shifting from an easing bias to stabilizing market entities and employment, Wen said. Say food returns to its 30% weight from five years ago, a back-of-the-envelope calculation shows that consumer inflation would have hit 4% in July, …

Rural households spend the largest share of income on food He added that consumer prices would generally be steady despite some fluctuations. So the Chinese consumer and worker will be worse off. Non-food prices stay flat compared with a year ago, after June's 0.3% increase.

But in fact a look at the consumer inflation data shows that food prices have been rising in many areas with the price of pork continuing to surge. (For the latest China news, Please follow People's Daily on The shortage of pigs and pork caused by the African Swine Fever outbreak, the coronavirus and now the flooding have kept prices at an elevated level, and an industry survey The end result is that spending on entertainment or other discretionary areas has taken a big hit, due to rising food prices and measures to control the pandemic, and shows no signs of rebounding yet.Sources: National Bureau of Statistics. China's consumer inflation accelerated for the second straight month in July on the back of higher food prices, official data showed Monday.

Compared with the same period last year, food prices remained the main driving force of consumer inflation in July, rising 13.2 percent year on year and contributing 2.68 percentage points to the CPI growth. First the pandemic and now floods are slashing the spending power of Chinese households this year, as stagnant incomes and rising costs undermine the strength of the domestic recovery.That trend may also be worsening China’s already severe Slower recovery in median likely indicates the poor are strugglingSource: National Bureau of Statistics; shows cumulative year-to-date data On top of that, food prices are rising faster as the pandemic has slowed imports and flooding in central China damaged food crops and transport links. “High food inflation since last year due to pork prices has indeed further squeezed the income of the low-income households,” said Michelle Lam, greater China economist at … In breakdown, pork prices climbed 10.3 percent from June due to tight supplies and increasing demand from the recovering catering industry. Meantime, prices for non-food products and services were unchanged, after rising in June. The overall inflation is under control as the core CPI hit a record low, said Wen bin, chief analyst at China Minsheng Bank. The reading narrowed from the 3-percent drop in June and 3.7-percent fall in May. Customers buy vegetables at a market in Shenyang, China’s northeastern Liaoning province. Compared with the same period last year, food prices remained the main driving force of consumer inflation in July, rising 13.2 percent year on year and contributing 2.68 percentage points to the CPI growth. Meanwhile, food prices, which account for nearly one-third of the weighting in China's CPI, edged up 2.8 percent last month. Consumer price index (CPI), the main gauge of inflation, grew 2.7 percent year on year last month, expanding from a 2.5-percent gain in June and a 2.4-percent rise in May, according to data from the National Bureau of Statistics (NBS). Due to rebounding global crude oil prices, prices in the sectors of oil and natural gas extraction surged 12 percent last month from June, while those for the processing of oil, coal and other fuel went up 3.4 percent. China's consumer price index in July picked up 2.7% from a year earlier, compared with June's 2.5% rise, as recent pork price increases and floods in southern China drove up food prices. The overall inflation is under control as the core CPI hit a record low, said Wen bin, chief analyst at China Minsheng Bank. China Food Inflation - values, historical data and charts - was last updated on August of 2020. The Trading Economics Application Programming Interface (API) provides direct access to our data. Prices of vegetables rose 6.3 percent from June as unfavorable weather conditions disrupted supplies and transport. Monday's data showed China's producer price index, which measures costs for goods at the factory gate, fell 2.4 percent year on year in July. On a monthly basis, consumer prices went up 0.6 percent. China’s consumer inflation edged up in July, official data showed Monday, partly because of rising food prices from flood-related disruptions and as the country recovers from the coronavirus outbreak. He added that consumer prices would generally be steady despite some fluctuations. China’s inflation rate rose 2.7 per cent in July, up from the 2.5 per cent gain in June, data released on Monday showed. Last Tuesday, China announced that food prices rose 14.8% in April from a year ago. The generally stable inflation gives the government leeway to maneuver monetary policy in the coming months, with its focus shifting from an easing bias to stabilizing market entities and employment, Wen said.

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