The growth of China's consumer price index (CPI) slowed down to
one percent in July, as food prices moved down the inflation rate,
the National Bureau of Statistics said Friday.
July's CPI growth is 0.5 percentage points lower than that of
June, reversing the widening trend of CPI growth rates since March
this year, the NBS said.
China's CPI rose 0.8 percent, 1.2 percent, 1.4 percent and 1.5
percent in March, April, May and June respective, previously
statistics showed.
Food prices in July increased 0.6 percent, compared with 1.9
percent in May, while non-food items rose 1.2 percent in July,
roughly the same as 1.1 percent in May.
As the fluctuation of food prices contributes to 30 percent of
CPI growth, slower food prices growth in July lead to the lower
inflation rate, said experts.
In the food category, edible oil prices slipped 3.3 percent,
meat prices dropped 7.1 percent, egg prices fell 12.9 percent and
vegetable prices went down 3.5 percent in July, but prices for
grains rose 2.9 percent and seafood increased 2.5 percent.
Among major non-food items, electricity, water and fuel prices
went up 5.3 percent. Prices for construction and furnishing
materials rose 4.1 percent and rents up 3.1 percent.
(Xinhua News Agency August 12, 2006)