China consumer prices picked up moderately in June, however wholesale prices remained entrenched in deflation, a sign of continued slack in the world’s second largest economy.
China’s consumer price index (CPI) rose 1.4 percent in June from a year earlier, beating expectations of a 1.3 percent rise predicted in a Reuters poll and following a 1.2 percent rise in May.
The producer price index (PPI), however, slid 4.8 percent, worse than forecasts for a 4.5 percent fall and after a 4.6 percent decline in May. This marks its 39th consecutive month of declines, according to Reuters.
(Source: Shanghai Daily)