China’s consumer prices fall
Beijing — China’s consumer prices declined in August and producer prices continued to drop, the National Bureau of Statistics said Wednesday.
The consumer price index (CPI) dropped 0.4% from a year ago after remaining flat in July. Prices were expected to fall 0.2%.
On a monthly basis, the CPI remained flat, while prices were forecast to edge up 0.1%.
Another data showed that producer prices dropped at a slower pace of 2.9% from a year ago in August, slower than the 3.6% decrease in July. The pace of decline matched expectations.
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Notes from APS Radio News
The following are some of the statements & descriptions that appear at the National Bureau of Statistics of China.
This statement concerned what are called “economic growth drivers index“:
To dynamically monitor the changes in new drivers of China’s economic development, the Institute of Statistical Sciences of the National Bureau of Statistics of China calculated the new economic growth drivers index for 2024, by employing the fixed-base index method, according to the Statistical Monitoring System for New Industries, New Formats and New Business Models. The results showed that China’s new economic growth drivers index in 2024 (taking 2022 as 100) was 136.0, an increase of 14.2 percent over the previous year. In 2024, all sub-indexes increased compared to the previous year, among which network economy index and the innovation driven index contributed the most to the growth of the total index.
Network economy index. The network economy index in 2024 was 142.4, an increase of 16.2 percent over the previous year, with a contribution rate of 35.2 percent to the overall index growth.
Innovation driven index. The innovation driven index in 2024 was 138.5, an increase of 13.2 percent over the previous year, with a contribution rate of 28.5 percent to the overall index growth.
Economic vitality index. The economic vitality index in 2024 was 130.9, an increase of 14.5 percent over the previous year, with a contribution rate of 19.6 percent to the overall index growth.
Transformation and upgrading index. The transformation and upgrading index in 2024 was 127.8, an increase of 12.5 percent over the previous year, with a contribution rate of 16.7 percent to the overall index growth.
This statement was found at the “Purchasing Manager’s Index for August 2025“:
In August, the purchasing managers’ index (PMI) of China’s manufacturing industry came in at 49.4 percent, an increase of 0.1 percentage points from the previous month, and the climate level of the manufacturing industry improved.
In terms of enterprise size, the PMI for large enterprises was 50.8 percent, an increase of 0.5 percentage points from the previous month, above the threshold; the PMI for medium-sized enterprises stood at 48.9 percent, a decrease of 0.6 percentage points from the previous month, below the threshold; the PMI for small enterprises stood at 46.6 percent, an increase of 0.2 percentage points from the previous month, below the threshold.
From the sub-indexes, among the five sub-indexes that constitute the manufacturing PMI, the production index and the supplier delivery time index were above the threshold, while the new order index, the raw material inventory index and the employment index were below the threshold.
The production index was 50.8 percent, an increase of 0.3 percentage points from the previous month, indicating that the expansion of production in the manufacturing industry had accelerated.
The new order index was 49.5 percent, an increase of 0.1 percentage points from the previous month, indicating an improvement in the manufacturing market demand.
The raw material inventory index was 48.0 percent, an increase of 0.3 percentage points from the previous month, still below the threshold, indicating that the decline in the inventory of major raw materials in the manufacturing industry narrowed.
The employment index was 47.9 percent, a decrease of 0.1 percentage points from the previous month, indicating a drop in the employment climate of manufacturing enterprises.
The supplier delivery time index was 50.5 percent, an increase of 0.2 percentage points from the previous month, indicating that the delivery time of raw material suppliers in the manufacturing industry continued to decrease.
At this page appears a bar graph denoting the consumer price index by month:
https://data.stats.gov.cn/english/easyquery.htm?cn=A01
