Consumer inflation rises 2.3% in July

Consumer inflation in China rose 2.3% year-on-year in July but the producer price index fell 0.9%, maintaining its decline for the 29th consecutive month, Reuters reported, citing official data. Both indicators matched analyst forecasts. Analysts attributed the steady CPI to slides in prices for fresh fruit and vegetables, which offset rises in other categories. Ma Zihui, researcher at Huarong Securities in Beijing, said the slide in the PPI was “not a good message.” “July macroeconomic data might come out worse than some people expected,” he said.