Chinas July CPI decreased by 0.3% year -on -year decline in 2021

China Consumer Price Index (CPI) in July China (CPI)The decrease of 0.3%is the first decline since February 2021, showing that domestic demand has continued to downturn.

The data released by the National Bureau of Statistics of China on Wednesday (August 9) showed that in July, CPI fell by 0.3%year -on -year, and the decline was slightly lower than the decline in the survey of Reuters and Bloomberg.Rat 0.2%.

Among them, the city's CPI decreased by 0.2%year -on -year, and the rural decreased 0.6%; food prices fell by 1.7%. Among them, the price of livestock meat plummeted by 14.0%, which affected CPI by about 0.48 percentage points.The CPI decreased by about 0.41 percentage points, and the price of non -food was flat; the price of consumer goods decreased by 1.3%, and the service price rose 1.2%.From January to July this year, the average consumer prices of residents across the country rose 0.5%year -on -year.

Dong Lijuan, chief statistician of the Urban Division of the National Bureau of Statistics of China, said that CPI fell year -on -year.In the next stage, with the resumption of China's economy, the market demand has steadily expanded, and the supply and demand relationship has continued to improve. In addition, the impact of the high base of the previous year has gradually eliminated, and the CPI is expected to gradually rise.

In addition, the July Industrial Producer's Factory Price Index (PPI) announced by the National Bureau of Statistics of China decreased by 4.4%year -on -year and a decrease of 0.2%month -on -month.Although the year -on -year and month -on -month decline has narrowed, it has declined for 10 consecutive months.From January to July this year, the average factory price of industrial producers decreased by 3.2%year -on -year, and the purchase price of industrial producers decreased by 3.5%.

Bloomberg reported that this is the first time that consumer prices and producer prices have contracted synchronously since November 2020.

Affected by the weak domestic and foreign demand, China's economic recovery slowed down after the strong start in the first quarter of this year.In order to boost domestic consumption demand, the Chinese government has issued a package of policy and measures, and it is expected to introduce more measures.