egetable prices in China have risen significantly this summer, with analysts pointing to high temperatures and frequent rainfall as the main reasons. <\/p>\n
Vcg | Visual China Group | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n
BEIJING \u2014 China on Monday reported its consumer price index rose by 0.6% year on yea<\/a>r in August, missing expectations as costs of transportation and home goods, and rents declined.<\/p>\n The consumer price index was forecast to have climbed 0.7% year on year in August, according to a Reuters poll.<\/p>\n Food prices climbed by 2.8% year on year in August, the first positive print since June 2023, according to Wind Information data. Pork prices surged by 16.1% in August, while vegetable prices climbed by 21.8%.<\/p>\n Core-CPI, which strips out food and energy prices, climbed by 0.3% in August from a year ago, a slower rise for a second-straight month.<\/p>\n<\/div>\n Consumer prices in China have remained subdued amid lackluster domestic demand since the pandemic.<\/p>\n China’s former central bank head Yi Gang said at a conference on Friday that the country needed to focus on “fighting the deflationary pressure<\/a>.” He forecast the consumer price index would be slightly above zero by the end of the year.<\/p>\n