China’s consumer price index rose 1.8 percent year on year for July — slowing down from the 1.9 percent growth registered in June and the 2.3 percent growth registered in February, March and April, the National Bureau of Statistics said Tuesday.
The National Bureau of Statistics’ statistician Yu Qiumei attributed the controlled inflation to easing food prices. Pork prices rose less in July than they did in June but the impact of heavy rainfall in some areas last month contributed to an increase in the price of fresh vegetables.
Meanwhile, the producer price index fell by 1.7 percent year on year for July. It fell 2.6 percent in June.
This month’s producer price index has been declining for 52 months as the country works towards rebalancing its economy during the economic slowdown and curbing industrial overcapacity.
China’s exports in July rose 2.9 percent year on year, gaining momentum from the 1.3 percent growth registered in June, according to figures released by the General Administration of Customs on Monday.
Imports appeared to worsen though. They fell 5.7 percent in July, compared to a 2.3 percent decline in June.
The U.S., backed by the European Union and Japan, was highly critical of China in a World Trade Organization forum last month. It claimed that China resorts to unfair trade policies — from distorting subsidies to tax rebates on exports — to give domestic enterprises an unfair advantage over international competitors.