China CPI Ups 3.3Pct in July

»China’s consumer price index, a main gauge of inflation, rose 3.3 percent in July from a year earlier, official data showed Wednesday.

»The figure was 0.4 percentage points higher than the 2.9 percent annual growth registered in June and 0.3 percentage points higher than the 3 percent target set by Chinese government, the National Bureau of Statistics (NBS) announced on its website.

»Food prices rose 6.8 percent year-on-year in July while non-food prices grew 1.6 percent from a year earlier, the NBS said.

»On a monthly basis, food prices rose 0.9 percent in July, mainly driven by the soaring vegetable prices while non-food prices slightly rose 0.1 percent.