Chinese consumer prices climbed 1.8 per cent in July, which was slightly higher than the 1.7 per cent economists were expecting. Nevertheless, this was down from 2.2 per cent in June.
Producer prices fell 2.9 per cent, versus expectations for 2.6 per cent.
“China CPI growth is at 30 month low, but will most likely start to rise again next month,” said Bloomberg BRIEF economist Michael McDonough.
Here’s a chart breaking down historical Chinese CPI courtesy of McDonough: