Inflation in China accelerated to highest since February

By Alimat Aliyeva

Consumer price growth (CPI) in China reached 0.5% per annum in July. Inflation in the country last month grew at the fastest pace since February, Azernews reports.

Analysts' forecast suggested an increase in inflation in July to 0.3% per annum. A month earlier, it was 0.2%.

A sharper increase in the CPI index in July was facilitated by a rise in the price of pork, analysts say. Prices for this meat (a widely consumed food product in China) soared by 20.4% year-on-year in July, which was the largest increase since December 2022.

The core consumer price index, which does not take into account food and energy prices, rose by 0.4% per annum in July against 0.6% in June.