Excluding volatile food and energy prices, the core CPI increased 2.2 percent year on year in August, up slightly from July's 2.1 percent. The core CPI has been holding steady at a little above 2 percent since March.
Analysts said the pick-up in consumer inflation is unlikely to continue because of a high comparative base in September 2016 and the fading effects of seasonal factors during the rest of the year.
Jiang Chao, chief economist at Haitong Securities, said the CPI increase would ease to 1.6 percent in September and remain subdued for the whole year.
Producer price index (PPI), which measures costs of goods at the factory gate, rose to a four-month high of 6.3 percent in August, compared with 5.5 percent in July, according to NBS.
PPI growth, which was higher than the market forecast of 5.7 percent, was boosted by increases in the prices of steel, non-ferrous metals, as well as oil and natural gas.
On a month-on-month basis, the index was up 0.9 percent last month.
Producer prices accelerated upward, a significant positive sign for China's economy, which will help drive profits higher and enable companies to process their debt burden a little more easily, Bloomberg chief Asia economist Tom Orlik said.
However, Orlik said factory sector reflation remained vulnerable. The sector breakdown showed factory reflation was benefiting mainly upstream industries, with downstream industries squeezed.
【国内英语资讯:Chinas inflation accelerates more than expected in August】相关文章:
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