China 's industrial producer price index (PPI) fell 0.8% year-on-year in June , in line with market expectations, but it has been negative for 21 consecutive months. The consumer price index (CPI) released on the same day rose 0.2% year-on-year , the lowest in three months and lower than the market expectation of 0.4% .
Last month, many commodity prices also fell, with food prices down 2.1% year-on-year , with the largest drop in fresh fruit and vegetable prices. Only pork prices rose 18% due to demand .
As for PPI , only May this year has seen a year-on-year increase, and PPI in the first half of the year recorded a year-on-year decline of 2.1% .
Dong Lijuan, chief statistician of the Urban Department of the National Bureau of Statistics of China, said that the consumer market was well supplied in June, and the core CPI, excluding food and energy prices, rose by 0.6 % year-on-year, the same as last month, and continued to rise moderately. In addition, affected by the fluctuations in international commodity prices and insufficient demand in some domestic industrial product markets in China, the PPI fell month-on-month, but the year-on-year decline continued to narrow.
Chinese Premier Li Qiang held a discussion with entrepreneurs and experts in Beijing on May 9. It was only about one and a half months since Xi Jinping held a discussion with entrepreneurs and experts in Jinan on May 23. Li Qiang also hosted a similar discussion in Beijing on April 8. In other words, Xi Jinping and Li Qiang convened discussions with entrepreneurs and experts three times within three months.
The Third Plenary Session of the 20th Central Committee of the Communist Party of China will be held next week, and whether it will introduce important economic policies has attracted much attention.