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Core consumer prices, excluding food and energy prices, went up 0.8% y/y, the same pace as in July, and remained at the fastest pace since January.
On a monthly basis, consumer prices gained 0.3% in August, matching consensus and coming after a 0.2% growth in July.
Meanwhile, the drop in China’s producer price index, which reflects the prices that factories charge wholesalers for products, narrowed from a fall of 4.4% in July to 3% in August. The indicator has fallen for 11 months in a row.
On a monthly basis, producer prices edged up 0.2%, the first increase in nine months, after a 0.2% fall in July.
Food prices dropped by 1.7%, while services prices rose by 1.3%, indicating an uneven post-reopening economic recovery. Consumer goods prices also dropped by 0.7% year-by-year.
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