Sep. 10, 2012 (China Knowledge) - China's consumer price index (CPI), the major gauge of inflation, has increased 2.0% YoY in August this year, according to statistics released by the National Bureau of Statistics (NBS)
The CPI growth last month was higher than the 1.8% increase in July.
The CPI in urban areas rose 2.1% YoY in August, while the CPI in rural areas increased 1.8% YoY, according to the statistics.
The NBS said food prices went up at a faster growth of 3.4% YoY last month, driven by a 3.2% increase in grain prices, 23.8% increase in the prices of fresh vegetable, a 5.6% increase in the prices of aquatic products and a 4.5% increase in edible oil. Meanwhile, the price of prices of meat, poultry and processed products saw widened declined of 6.6% YoY, with the price of pork dropping 18.5% YoY, which contributed a 0.71 percentage point decline to the overall CPI last month. The prices of fresh eggs fell 6.6% YoY. Non-food prices rose 1.4% YoY in August.
The prices of tobacco products, alcohol and related products climbed 3.0% YoY, mainly driven by a 6.5% increase in alcohol prices, while the prices of household appliances and maintenance services edged up 1.8% from a year earlier.
The price of personal and health care products increased 1.3% YoY in August, while the price of clothing rose 3.1%, with a 3.5% increase in the price of garments and 1.9% increase in footwear.
There was a decrease of 0.8% in the prices of transportation and communications, and an increase of 2.2% in housing costs that were driven by a 3.0% increase in housing rentals, 3.0% increase in the prices of water, electricity and fuels, and 0.4% increase in the prices of building and decoration materials.
In the first eight months, the country's CPI grew 2.9% YoY.
In August, China saw its CPI rise 0.6% from the previous month.