According to statistics released by the Survey Office of the National Bureau of Statistics in Zhejiang that, Consumer Price Index (CPI) of Zhejiang Province in August rose 3.4% over the same period of last year, but compared with the growth rate of CPI in July, it has dropped 0.7%, a fairly large rate of decline. At the same time, Producer s Price Index for Manufactured Products (PPI) rose 4.6% year-on-year in August, which is 1.4% lower than the growth rate of PPI in July. What s more, the month-to-month decline has already lasted for three consecutive months.
According to Wu Xiaoyan, Deputy Director General of the Department of Consumption and Price of the Survey Office of the National Bureau of Statistics in Zhejiang that, the growth rate of CPI has show signs of decline. CPI might peak in the third quarter, but is estimated to drop in the fourth quarter of the year.
