Last month, Chinese inflation hit 2,6%, in line with expectations. The figure is slowing down from the 2,7% recorded in July and was released by the Chinese National Bureau of Statistics (SNB).
Producer prices in August instead fell by 1,6% on an annual basis after a contraction of 2,2% in July, while on a monthly basis there was an increase of 0,1%, the first after five months of decline .
The Chinese government has set a 2013 inflation target of 3,5%. In 2012, inflation stood at 2,6% (5,4% the previous year) while growth fell to 7,8% (from 9,3%).
"The evolution of producer prices shows that the measures put in place by the Government" at the end of July to stimulate economic activity (especially tax exemptions and breaks, ed.) "have produced their effects and the stabilization movement of the economy it is evident,” commented Yu Qiumei, an expert at the BNS, quoted in a note.
