China's August CPI falls 1.2%, PPI falls 7.9%
Xinhua 2009-09-11
China's consumer price index (CPI), a major gauge of inflation, dipped 1.2 percent in August from a year earlier, the National Bureau of Statistics said Friday.
The rate of decline was 0.6 percentage points lower than that in July. In August 2008, the CPI rose 4.9 percent over the same month in 2007.
This marked the seventh consecutive month of decline since the index dropped 1.6 percent in February, the first fall since October 2002.
The producer price index (PPI), a major measurement of inflation in wholesaling, in August fell 7.9 percent from a year earlier.
The rate of decline was 0.3 percentage points lower than that in July. In August 2008, the PPI rose 10.1 percent over the same month in 2007.
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The August figure brought new yuan-denominated loans in the first eight months to 8.15 trillion yuan, 5.04 trillion yuan more than the same period of last year.
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The August growth rate was 0.5 percentage points lower than the growth figure in the same month last year, but 1.5 percentage points up from July.
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The growth rate was 5.6 percentage points higher than the rate in the same period last year, up 0.1 percentage point compared to the first seven months of this year.
