China reports July CPI rose 1.4％, PPI up 5.5％ year on year

China's consumer price index (CPI), a main gauge of inflation, rose 1.4 percent year on year in July, the National Bureau of Statistics (NBS) said Wednesday.

It was slightly down from June's 1.5 percent. On a month-on-month basis, the index was up 0.1 percent, according to the bureau.

Inflation data from China is closely watched as indications of how the central bank may approach monetary policy. China's 2017 inflation target is 3.0 percent.

The producer price index (PPI) rose 5.5 percent in July from a year earlier, the same rate as the previous two months.

(CGTN)