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Thread: July CPI down to 6.3 percent!

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[quote=ZOEY,311996]China's CPI in July falls to 6.3 percent. Compared with 7.1 percent in June and 7.7 percent in May, it has gone down a lot. According to the report, the CPI decline was due to the falling food prices, especially the price of pork, and the shrinking demond due to the economic slowdown.

"Food prices, which account for more than a third of the CPI calculation, rose 14.4 percent in July, 2.9 percentage points lower than June and 6 percentage points lower than the growth for the first half.

The price of meat increased 16 percent, while that of pork rose12.1 percent. Cooking oil went up 30.8 percent, vegetables up 8.4 percent, aquatic products up 18.3 percent and grains up 8.6 percent.

In the first seven months of this year, the inflation indicator rose 7.7 percent from the same period last year: 7.4 percent for urban areas and 8.3 percent for the countryside. " The report said.

Meanwhile, it reflects that the government's efforts to ease the inflationary pressure was effective.

However, the decline in CPI has aroused a discussion that if China has gone through the hardest period of inflation. Although the CPI has decreased greatly, the PPI is still in its highest level in recent 12 years. The PPI was up to 10 percent in July. It suggests that China still burdens pressure from the inflation. While, an economist analyses that the PPI rise would not immediately increase pressure on the CPI. Moreover, the prices of commodity and energy have started to drop so the central bank should reduce the attention to the inflation and focus the economic growth more.[/quote]

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