The National Bureau of Statistics of China has released the Consumer Price Index (CPI) data for June 2023, showing a flat month-on-month change in prices. The urban CPI remained unchanged, while the rural CPI decreased by 0.1 percent. The food prices increased by 2.3 percent, while the nonfood prices decreased by 0.6 percent. The consumer goods prices experienced a decrease of 0.5 percent, while the service prices increased by 0.7 percent. On average, the national consumer price increased by 0.7 percent from January to June compared to the same period last year.
The year-on-year analysis revealed that the price of food, tobacco, and liquor increased by 2.0 percent, mainly driven by a rise in the prices of fresh vegetables (10.8 percent) and fresh fruit (6.4 percent). However, the price of livestock meat, particularly pork, witnessed a decrease of 3.3 percent. Among the other major categories, miscellaneous goods and services and education, culture, and recreation saw an increase in prices by 2.4 percent and 1.5 percent, respectively. In contrast, transportation and telecommunication prices experienced a significant decline of 6.5 percent.
Looking at the month-on-month changes, the prices of food, tobacco, and liquor decreased by 0.2 percent, influenced by lower prices of eggs (2.2 percent), fresh fruit (1.7 percent), and livestock meat (1.2 percent). Housing and health care prices showed a slight increase of 0.1 percent, while the prices of miscellaneous goods and services, household facilities, articles and services, and transportation and telecommunication decreased by 0.6 percent, 0.5 percent, and 0.5 percent, respectively.
The Consumer Price Index data reflects the overall stability in prices across various categories in China for the month of June. The government will continue to monitor the situation and take appropriate measures to ensure price stability and economic growth.
http://www.stats.gov.cn/english/PressRelease/202307/t20230712_1941199.html