China's consumer price index (CPI), a main gauge of inflation, grew by 2.7 percent year on year in June, but analysts say the acceleration indicates little inflationary pressure.

June's CPI was up from 2.1 percent in May, but still well below the government's full-year target of 3.5 percent.

The National Bureau of Statistics attributed the acceleration to a 4.9-percent rise in food prices, as well as the base effect.

"From a global perspective, 2.7-percent inflation growth will not add too much pressure to the economy. Due to insufficient domestic and foreign demand, we expect mild inflation this year, probably within 2.5 percent," said Zhang Bin, a researcher with the Chinese Academy of Social Sciences.