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China's CPI hits 29-month of 2.2% in June

service@ironoreteam.comMon Jul 9, 2012 11:52am GMT

Consumer price inflation in China accelerated at the slowest rate since January 2010 in June, as food costs eased, official data showed on Monday.

In a report, China’s National Bureau of Statistics said consumer price inflation rose by a seasonally adjusted 2.2% in June, slowing from 3.0% in May.

Analysts had expected Chinese CPI to rise by 2.3% in June.

Month-on-month, the consumer price index fell 0.6% in June, compared to a 0.3% drop in May.

Politically sensitive food costs decelerated to 3.8% from May's 6.4%.

The report also showed that producer price inflation fell by 2.1% in June, compared to expectations for a 1.9% decline. Producer price inflation declined 1.4% in May.


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