Chinese consumer price inflation accelerates to 2.3 pct

Official figures indicate that the annual rate of consumer price inflation in China rose to 2.3 percent last month, its fastest since February 2018, Xinhua reports.

The Chinese government-run news agency, citing data given by the Chinese National Bureau of Statistics, says the acceleration was due mainly to swift increases in prices of goods and services other than food, which rose at an annual rate of 2.5 percent.

Prices of medical products and services rose by 4.3 percent in the 12 months ended August, those of transport and communications rose by 2.7 percent and those of education, culture and entertainment rose by 2.6 percent.

The report quotes a note by Nomura, a stockbroker, as saying the annual  rate of inflation may slow to about 2.1 percent this month.

The annual rate of producer price inflation in China slowed to  4.1 percent last month from 4.6 percent the month before, Xinhua says.