The key inflation reading outpaced a 1.6% gain forecast by economists polled by The Wall Street Journal. Policy makers in Beijing hope to keep inflation under about 3% this year. On a month-over-month basis, the CPI rose 0.4% in August from a month earlier. In July, the index edged up 0.1% from the previous month. The producer-price index climbed 6.3% in August compared with a 5.5% on-year increase in July. The reading for factory-gate prices came in faster than a median forecast for a 5.7% increase by the economists.
China's CPI up more than expected
China's consumer inflation rose to a seven-month high, as falls in food prices softened, dragging less on the overall index, official data showed Saturday. China's consumer-price index increased 1.8% in August from a year earlier, compared with a 1.4% gain in July, the National Bureau of Statistics said. Food prices edged down 0.2% on year, after dropping 1.1% in July. Nonfood prices grew 2.3% on year, compared with 2.0% on-year growth in July.
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