Inflation Dips to 30-Month Low
China's consumer price index eased to 1.8% in July from a year earlier, marking a 30-month low in tandem with a flagging economy, according to figures from the National Bureau of Statistics. Food prices, which make up one-third of the inflation basket, were up 2.4% compared to the same month a year ago. The nation's CPI was up 3.1% year on year January-July. China's producer price index declined 3.4% in July from a year earlier, faster than the 2.1% drop recorded in June. The continuous drop gives the government more room to stimulate growth.
Industrial Output Decelerates in Jul from Jun
China's value added industrial output expanded 9.2% year on year in July; the rate was 0.3 percentage points slower than the month before, the National Bureau of Statistics said. The growth of light industries was 10.1% and the growth of the heavy industries was 8.8%; output from state-owned industrials was up 4.8% and output from non mainland-funded industrials was up 5.3%.
Fixed Asset Investment Rises 20.4% Through Jul
Fixed asset investment in China rose 20.4% year on year to ¥18.43 trillion in the first seven months of 2012; the rate was unchanged from that recorded for the first six months, the National Bureau of Statistics said. Fixed asset investment in the primary sector was up 28.8% to ¥455 billion; fixed asset investment in the secondary sector was up 23.4% to ¥8.29 trillion; fixed asset investment in the tertiary sector was up 17.7% to ¥9.69 trillion.
$1 = ¥6.34