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China's August CPI falls1.2%, PPI drops 7.9%

By Si Tingting and Qiang Xiaoji (chinadaily.com.cn/Xinhua)
Updated: 2009-09-11 10:01

Related readings:  China July CPI down 1.8% on year, PPI down 8.2%  China's CPI to rise in Q4: expert  China Q3 GDP to up 8.5%, no inflation: think-tank  China advances to the 29th most competitive economy  China to lead world out of economic woe

China's consumer price index (CPI), a main gauge of inflation, dipped 1.2 percent in August from a year earlier, the National Bureau of Statistics (NBS) announced Friday.

The country's producer price index (PPI), a major measure of inflation at the wholesale level, fell 7.9 percent year-on-year in August, according to the NBS.

Both CPI and PPI showed a smaller year-on-year decrease compared with July data.

China's urban fixed-asset investment rose 33.0 percent in the first eight months from a year earlier to 11.30 trillion yuan ($1.65 trillion), according to the NBS.

The country's output of electricity was 334.3 billion kW-hours in August, expanding 9.3 percent from a year earlier, said the NBS.

New loans rise to 410.4 billion yuan in August

China's new yuan-denominated lending in August rose to 410.4 billion yuan ($60.02 billion) from July's 355.9 billion yuan, the People's Bank of China, the central bank, said Friday.

The August figure brought new yuan-denominated loans in the first eight months to 8.15 trillion yuan, 5.04 trillion yuan more than the same period of last year.

The broad measure of money supply, M2, which covers cash in circulation and all deposits, rose 28.53 percent from a year earlier to 57.67 trillion yuan at the end of August.

The narrow measure of money supply, M1 (cash in circulation plus current corporate deposits), was up 27.72 percent to 20.04 trillion yuan.