According to China's National Bureau of Statistics, in July of the current year China's producer price index (PPI) fell by 2.9 percent compared to the same month of 2011, while it dropped by 0.8 percent compared with June. For the first seven months of the year, the average producer price index of China declined by 1.0 percent on year-on-year basis.
In July this year, China's consumer price index (CPI) witnessed an increase of 1.8 percent year on year and was up 0.1 percent month on month. China's CPI in the January-July period increased by 3.1 percent compared to the same period of 2011.