China's CPI logs monthly increase as consumer demand recovers.China's CPI logs monthly increase as consumer demand recovers.
China's consumer price index (CPI), a pivotal measure of inflation, experienced a modest uptick in July.
The National Bureau of Statistics (NBS) attributed this rise to the ongoing recovery of consumer demand.
While food prices exhibited a 1 percent month-on-month decline, the prices of non-food items countered this trend by rising 0.5 percent
Notably, services prices emerged as a notable contributor, surging by 0.8 percent month on month.
This sharp increase of 0.7 percentage points compared to June was predominantly driven by the soaring prices of travel services