China's consumer price index (CPI) rose at 1.4 percent year-on-year in July, moderating slightly from the 1.5 percent pace recorded in June, official data showed on Wednesday.
The moderation in CPI inflation in July reflected easing food prices, which have a significant weight in the overall Chinese CPI basket, amid inflation pressures, Rajiv Biswas, Asia Pacific chief economist for IHS Markit, said in an e-mail sent to the Global Times on Wednesday.
Meanwhile, the country's producer price index (PPI) inflation rate remained stable in July, rising at a pace of 5.5 percent, the same rate as in June.
Despite some increases in world prices for oil and base metals, growth was cooled by a slight depreciation of the U.S. dollar against the Chinese yuan and the time lag between new orders placed for commodities and delivery times to Chinese factories, Biswas noted.
