SHANGHAI’S consumer inflation rose in January, driven by prices of food and services, data with the shanghai cpi
Bureau showed yesterday.The city’s Consumer Price Index, a main gauge of inflation, rose 3.6 percent last month from a year ago, up 0.3 percentage points from December.The CPI has remained above 3 percent for 11 consecutive months and was also higher than the national figure for 37 months in a row.
Food prices, the largest component of the CPI, rose 3.5 percent year on year, the data showed.Housing costs added 4.2 percent, education and entertainment rose 6 percent, and medical and healthcare jumped 7.6 percent.
The warmer Shanghai inflation last month was in line with a pick-up in the national CPI to 2.5 percent from December’s 2.1 percent.SHANGHAI’S consumer price inflation accelerated to 3.4 percent in July, nearly doubled the 1.8 percent rise reported for China, the city government said yesterday.
The consumer price index rose 0.2 point from June, the Shanghai Statistics Bureau said, with food costs, which account for nearly a third of the CPI basket, adding 2.9 percent in July.
Shanghai has one of the highest inflation rates among China’s 36 middle and big cities during January to July, the National Development and Reform Commission said in a media briefing yesterday.
China’s CPI fell for a third consecutive month in July and has remained below the official target of around 3 percent in 2016, despite concerns that disruption to public infrastructure and agricultural production caused by the massive floods would increase inflationary pressure.
Other data released showed that 15.34 million square meters of new homes were sold in Shanghai between January and July, up 22 percent from the same period a year earlier. The growth rate of new home sales sped up from 18.3 percent during the January-June period.