7月份中國CPI漲幅回落 PPI降幅收窄

Consumer Prices in mainland China rose 1.8 per cent year-on-year in July, according to the National Bureau of Statistics, down slightly from June’s growth of 1.9 per cent and matching a median estimate of 1.8 per cent from economists surveyed. In month-on-month terms, consumer prices returned to growth with a rise of 0.2 per cent.

中國國家統計局數據顯示，7月份中國內地居民消費價格指數(CPI)同比上漲1.8%，漲幅較6月份的1.9%有所回落，與經濟學家們的估計值的中位數相符。環比而言，7月份的CPI上漲了0.2%。

Price moves for foodstuffs – a key driver of changes in the headline figure – helped keep the gauge in check, as inflation for food, tobacco and liquor fell about one percentage point to to 2.8 per cent growth year-on-year.

食品價格的變動幅度在一定程度上抑制了整體CPI的漲幅（食品價格是影響整體CPI變化的關鍵因素之一），7月份食品菸酒價格同比上漲2.8%，漲幅較上月下降了大約1個百分點。

A rise in pork prices of 16.1 per cent for the period pushed up the headline figure by 0.42 percentage points. Unusually, the bureau did not give an independent figure on the contribution from a 4.3 per cent rise in vegetable prices, instead combining it with that of eggs and stating those categories had together contributed 0.11 percentage points to the gauge’s overall rise.

7月份，豬肉價格同比上漲16.1%，影響整體CPI同比上漲約0.42個百分點。鮮菜價格同比下降4.3%，但國家統計局罕見地沒有公佈這項本身對CPI的影響，而是將其與蛋類合併到一起，表示這兩類合計影響整體CPI下降約0.11個百分點。

Despite deceleration in the headline gauge, core inflation, which strips out both food and energy prices, rose 0.2 percentage points to 1.8 per cent year-on-year, thanks in part to a continued and steady rise in healthcare costs, which were up 4.3 per cent for the period.

雖然7月份整體CPI漲速放緩，但剔除食品和能源價格的核心CPI同比上漲1.8%，漲幅較上月高了0.2個百分點。這在一定程度上是由醫療保健價格繼續穩步上漲所致，7月份醫療保健價格同比上漲4.3%。

Producer prices fell 1.7 per cent in year-on-year terms last month, easing visibly from contraction of 2.6 per cent in June and coming in softer than a median estimate of -2 per cent from economists. In monthly terms prices returned to marginal growth with a rise of 0.2 per cent.

7月份，生產者出廠價格(PPI)同比下降1.7%，降幅較6月份的2.6%明顯收窄，比經濟學家們估計值的中位數2%也要小一些。環比而言，PPI恢復小幅上漲，漲幅爲0.2%。