China’s stable growth and steady price gains bolster global economy

By Li Lintong
China’s July price data offers a timely assessment of economic conditions at the start of the second half of 2026. The consumer price index (CPI) rose 0.5 per cent year on year and declined 0.1 per cent month on month, with the monthly fall narrowing by 0.2 percentage points from June. Core CPI, which excludes food and energy, increased 0.9 per cent year on year and 0.3 per cent month on month. The producer price index (PPI) rose 3.5 per cent from a year earlier but fell 0.7 per cent from June.
The CPI reading remains consistent with moderate price growth, while the rise in core CPI indicates some firmness in underlying demand. The retreat of international crude oil pric...