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China's inflation keeps low, setting stage for stimuli
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China’s consumer prices expanded 2.7 percent from a year earlier in July, with the growth rate unchanged from June, the National Bureau of Statistics said today.
It leaves a favorable policy environment for the world’s second-largest economy to secure economic stability, analysts said.
Costs of food under the Consumer Price Index, the main gauge of inflation, increased 5 percent, the same as a month earlier. The non-food sector rose 1.6 percent, the bureau’s data showed.
Yu Qiumei, a researcher at the bureau, said China’s consumer inflation has been steady in the past a few months, which was amiable for the country to maneuver toward an acceptable growth rate.
In the first seven months, China’s inflation added 2.4 percent, still below the 3-percent target.
The Producer Price Index, the factory-gate measurement of inflation, fell 2.3 percent in July, narrowing from a drop of 2.7 percent a month earlier.
China’s trade activity rebounded strongly last month, according to data from the General Administration of Customs released yesterday, raising hope that China would see economic stability amid many concerns for further slowdown.
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