Economist: August CPI to be below 6%

Consumer price inflation in August is expected to come in at a yearly rate of below 6%, for a fourth straight month of deceleration, Dow Jones reported, citing state media. China’s CPI in July rose 6.3% from a year earlier. The state-run China Securities Journal cited Fan Jianping, head of the State Information Center’s economic forecasting department, as saying that the slowing inflation is due to declining food prices and a slowdown in China’s economy that has curbed prices. Fan also said that the producer price index for August would rise by 10%-10.3% compared to the previous year. China’s PPI in July came in at 10% year-on-year.