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Chinese Consumer Prices Rise
China's consumer prices rose a year-on-year 0.5 percent in July. According to figures released by the National Bureau of Statistics Wednesday, the average consumer prices for the first seven months of the year was 0.2 percent higher than the same period last year.
However, on the monthly basis, consumer prices continued to drop in July and ended lower than in June because of decreasing prices of vegetables and fruits during summer.
The price of foodstuffs, clothing, family goods, transport and telecommunication products, entertainment and education dropped 0.2-1.8 percent from the previous month in July.
At the same time, medical products, housing and services saw price hikes between 0.2-0.4 percent.
Retail prices were 0.9 percent lower than in June and 1.2 percent lower than one year ago. The average level of retail prices from January to July was 1.8 percent lower than the same period last year.
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