China’s inflation rate rose 2.7% in July, up from the 2.5% gain in June, data released on Monday showed, reported the South China Morning Post.
The rising consumer price index (CPI) was slightly worse than the inflation rate of 2.6% expected by analysts.
Pressure on China’s manufacturing sector following the impact of the coronavirus pandemic, meanwhile, eased slightly in July as the producer price index (PPI), reflecting the prices that factories charge wholesalers for their products, fell 2.4% year on year, data from the National Bureau of Statistics (NBS) showed.
“As catering service gradually recovered, the demand for pork increased persistently. Meanwhile, the flood disaster affected the transport of pigs, causing a relatively tight supply,” said NBS official Dong Lijuan.