China’s consumer inflation stayed below target for an eighth month while factory-gate prices fell by the least in six months, reflecting an economic pickup that leaves room for officials to add stimulus if needed.
The consumer-price index rose 2.6 percent, the National Bureau of Statistics said in a statement today in Beijing, matching the median forecast in a Bloomberg News survey. The producer-price index dropped 1.6 percent in August, the 18th straight decline, after July’s 2.3 percent decrease.
Subdued consumer inflation gives Premier Li Keqiang more room to support growth should this quarter’s rebound, signaled by faster gains in exports and industrial production, prove temporary. China’s leaders have indicated they will defend this year’s 7.5 percent expansion target without seeking to return to the pace of previous years.
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