Chinese Consumer Prices Rise Just Shy Of Expectations

Chinese consumer prices climbed 2.3% year-over-year in June.

This was just shy of expectations for a 2.4% rise and compares to a 2.5% rise the previous month.

Meanwhile, producer prices were down 1.1% YoY. This was slightly more than the 1% decline economists were expecting and compares with a 1.4% decline in May.

Food price inflation was expected to slow on account of lower pork and fruit prices, Jian Chang at Barclays wrote in a note ahead of the data release.

Producer price deflation was expected to ease as commodity prices had risen and industrial activity picked up, Chang wrote.

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