RTTNews | Aug 9, 2021 03:06AM EDT

03:06 Monday, August 9, 2021 (RTTNews.com) - China's consumer price inflation slowed marginally in July, while factory gate inflation accelerated on commodity prices, data published by the National Bureau of Statistics showed on Monday.

Consumer prices grew 1 percent year-on-year in July, slightly slower than the 1.1 percent rise seen in June. The annual rate was expected to ease to 0.8 percent.

On a monthly basis, consumer prices gained 0.3 percent, in contrast to the 0.4 percent drop in the previous month. Prices were forecast to rise 0.2 percent.

Core inflation that excludes food and energy prices, rose to 1.3 percent from 0.9 percent a month ago.

Food prices were down 3.7 percent as pork prices plunged 43.5 percent. Meanwhile, non-food prices grew 2.1 percent. Another report from the NBS showed that factory gate inflation accelerated in July after moderating in June. The producer price index climbed 9 percent annually versus the 8.8 percent rise in June. Economists had forecast the index to rise again by 8.8 percent.

Higher prices of crude oil prices, thermal coal and related products raised producer prices, Dong Lijuan, an official with NBS, said.

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