The consumer price index (CPI), a main gauge of inflation, softened to a 2.3 percent year-on-year growth in June, triggering concerns of broader monetary policy easing.
The growth was in line with previous market forecasts that the CPI in June would take a further dip compared the previous month's figures. NBS data also showed the CPI grew 2.3 percent year on year in the first half.
"The lower inflation rate in June was mainly because of lesser impact from the carryover effects from last year, and fewer new factors for price gains compared to May," said Yu Qiumei, a senior NBS statistician.
China's producer price index for industrial products, which measures inflation at the wholesale level, fell 1.1 percent year on year in June, according to the NBS.
The data marked the 28th consecutive month of drops, but the pace has narrowed from the 1.4-percent fall in May, 2 percent in April and 2.3 percent in March.
The trend indicates some "positive changes" in the industrial market, said Yu. |