CPI, PPI up on AI, energy lift
2026-09-10 17:17 China Daily
Meanwhile, factory-gate inflation also strengthened, with China"s producer price index rising 3.8 percent year-on-year in August, up from 3.5 percent in July, NBS data showed. On a monthly basis, the index rose 0.4 percent, reversing a 0.7 percent decline in July.
Dong Lijuan, an NBS statistician, attributed the pickup to higher global commodity prices lifting prices in related domestic industries, alongside stronger demand in some sectors as industrial upgrading advanced.
"The link between CPI and PPI became more pronounced in August than in July," said Zhang Di, chief macroeconomic analyst at China Galaxy Securities.
The rebound in crude prices lifted both upstream raw material prices captured by the PPI and transport-related prices in the CPI, while higher factory-gate prices in the electronics and communications sector fed through to consumer prices for communication devices, Zhang added.
Looking ahead, Wen Bin, chief economist at China Minsheng Bank, said core inflation is likely to strengthen further as the drag from pork prices fades and holiday spending lifts services consumption, while year-on-year PPI growth may edge down slightly in the fourth quarter amid commodity price volatility.



