NBS: China's July CPI grows 0.5%, PPI loses 0.8% YoY

China's Consumer Price Index (CPI) gained 0.5% from the same period last year and also increased 0.5% from June in July, while the Producer Price Index (PPI) fell by 0.8% on year and 0.2% on month, according to the latest data released by the country's National Bureau of Statistics (NBS) on Friday morning.

The country's CPI rebounded last month after falling continuously in the previous two months, mainly driven by the increases in prices of food and tourism industries, explained Dong Lijuan, a senior statistician with NBS. In July, China's food prices reversed the prior month's drop and rose by 1.2% from June,