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China's June CPI falls 1.7%, PPI down 7.8%

(Xinhua)
Updated: 2009-07-16 10:11

 

[chinadaily.com.cn]

Related readings:  CPI and PPI fall, but deflation threat eases  China's economy has bottomed out: expert  NBS to add 10,000 CPI survey locations

China's consumer price index (CPI), a main gauge of inflation, dipped 1.7 percent in June from a year earlier, the National Bureau of Statistics (NBS) said on Thursday.

This marks the fifth consecutive month of decline since the index dropped 1.6 percent in February, the first fall since October 2002.

The index marked a month-on-month decrease of 0.5 percent, according to the NBS. CPI fell 1.4 percent in May year on year.

The CPI fell 1.1 percent in the first half this year from a year earlier.

Retail commodity prices fell 1.4 percent in the first half. Food prices, which account for about one-third of the CPI, fell 0.3 percent.

Producer price index (PPI), a major measurement of inflation at the wholesale level, fell 7.8 percent year on year in June, according to the NBS.

The decline compared with a 7.2-percent drop in May from the same period last year. The country's PPI dropped 5.9 percent during the January-June period from a year earlier.

Purchasing prices of raw material, fuel and energy fell 8.7 percent year on year in the first half of this year.