China's annual inflation flat in June

By Gokhan Ergocun

ISTANBUL (AA) - China's consumer prices were unchanged in June on a yearly basis, the country's statistical authority revealed on Monday.

The inflation rate was flat in cities, while it decreased slightly by 0.1% in rural areas, according to the National Bureau of Statistics of China.

Food prices increased by 2.3% in the country over the same period, while non-food, consumer goods, and services prices dropped by 0.6%, 0.5%, and 0.7%, respectively.

"On average from January to June, the national consumer price rose by 0.7% over the same period of the previous year," it added.

- Producer prices

In June, producer prices in China dropped by 5.4% on a yearly basis and 0.8% on a monthly basis, the bureau also said.

In the month, the producer prices decreased by 16.2% for the mining industry, 9.5% for the raw material industry, and 4.7% for the processing industry.

The prices of raw materials dropped by 13%, ferrous metal materials by 11.2%, and fuel and energy by 11.1%.