NBS Releases August Consumer Price Index Showing Inflation Decline

The National Bureau of Statistics released its Consumer Price Index (CPI) report for August. The report indicated that headline inflation, measured annually, fell from 15.43 percent in July to 15.39 percent in August. On a month-on-month basis, headline inflation decreased from 1.57 percent to 0.71 percent. Core inflation, which excludes volatile farm produce and energy prices, was reported at 13 percent year-on-year and saw a month-on-month decrease of 0.06 percent.

The decline in headline inflation suggests the economy may be entering a phase of broad disinflation. The figures are closely watched by policymakers as they consider the appropriate direction for domestic monetary conditions. The report also noted that enhancing private sector investment and capital formation across the country is necessary for sustained economic health.