China’s August PPI Rose 9.5% YoY, CPI Up 0.8% YoY

SHANGHAI, Sep 14 (SMM) – China’s price increases of industrial products have both expanded month on month and year on year in August due to the higher prices of coal, chemicals, steel and other products.

China's industrial producer prices index (PPI) rose 9.5% year on year and 0.7% month on month, and the purchase prices for industrial producers rose 13.6% year on year and 0.8% month on month.

The average PPI from January to August in 2021 rose by 6.2% over the same period last year, and the purchase prices for industrial producers rose by 8.6%.

The National Bureau of Statistics announced the Consumer Price Index (CPI) of 31 provinces in August, which was 2.4% higher year on year, the increase was 0.3 percentage point narrower than tha in July.

The year-on-year growth rate of 11 provinces was lower than the national average, and the CPI of 4 provinces including Sichuan dropped year-on-year.

In August 2021, the national CPI rose by 0.8% year on year, and the increase was 0.2 percentage point narrower than the previous month.

Dong Lijuan, a senior statistician in the City Department of the National Bureau of Statistics, pointed out that all regions and departments continued to do a good job in ensuring supply and stabilising prices in August. The consumer market saw adequate supplied, and prices stood stable.