Hey everyone! China's consumer price index (CPI) saw a surprising 0.1% uptick in June – the first rise in five months. This welcome shift comes as government measures to boost domestic demand are beginning to pay off. 🎉
Official data from the National Bureau of Statistics shows that while May recorded a decline, June reversed course, with the core CPI (excluding volatile food and energy prices) rising by 0.7% year-on-year – the highest in 14 months. Dong Lijuan, chief statistician with the NBS urban division, explained that a rebound in industrial consumer goods prices played a key role in this turnaround.
On the production side, the producer price index (PPI), which tracks factory gate prices, dropped 3.6% year-on-year in June – deepening May’s decline of 3.3%. However, not every sector is following the downward trend. Prices for gasoline and electric vehicles nudged up slightly, and high-tech industries such as integrated circuit packaging, wearable smart devices, microwave communication equipment, aerospace, and servers even recorded price increases.
This blend of rising consumer costs and deflated production prices offers an interesting snapshot of the current economic landscape. For tech-savvy youngsters and early professionals across South and Southeast Asia, these trends not only hint at evolving consumer habits but may also impact global tech and innovation markets. Stay tuned as these numbers continue to shape the conversation! 🚀
Reference(s):
cgtn.com
