![Residents purchase vegetables at a market in Zhengzhou, capital of central China's Henan Province, April 10, 2015 [Xinhua]](http://news.windowstorussia.com/wp-content/plugins/RSSPoster_PRO/cache/e6154_china-inf.jpg)
Residents purchase vegetables at a market in Zhengzhou, capital of central China’s Henan Province, April 10, 2015 [Xinhua]
China’s consumer price index (CPI), a main gauge of inflation, rose to 1.6 per cent in July, the highest level seen in 2015.
On a monthly basis, consumer prices edged up 0.3 per cent in July, the National Bureau of Statistics (NBS) announced on Sunday.
For the first seven months, CPI increased 1.3 per cent year on year.
NBS statistician Yu Qiumei attributed the CPI hike mainly to higher pork prices, a staple diet.
Pork is a large slice of the consumer price index basket and a key driver of peoples’ inflationary expectations.
Costs for medical care, vegetables, housekeeping, tobacco, education were also on the rise.
China is targeting consumer inflation at around 3 per cent for 2015.
The new Caixin purchasing managers’ index (PMI) declined to a two-year low of 47.7 in July from June’s 49.4, suggesting weakness in the Chinese manufacturing sector.
Source: Agencies