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China reports soft inflation data

by Ben Nuelle LISTEN: World of Agriculture 7-14-16

China’s Consumer Price Index climbed 1.9 percent in June from a year ago, while analysts had expected a 1.8 percent gain.

Pro Farmer’s First Thing Today reports in May, inflation stood at two percent above year-ago levels.

This was the slowest pace of inflation since January, reinforcing ideas that more government stimulus is needed.

China’s food prices climbed 4.6 percent in June, versus a 5.9 percent gain the month prior.

Of note, pork prices are up 30.1 percent from year-ago levels. Non-food prices are up 1.2 percent from this time last year, versus a 1.1 percent gain in May.

The Producer Price Index fell 2.6 percent in June, compared to June 2015, whereas analysts had expected a 2.5 percent drop.

However, that figure stands as an improvement from a 2.8 percent drop in May.