In July, China's consumer price index (CPI) remained stable, showing no growth compared to the same month last year, according to data released by the National Bureau of Statistics (NBS) on Saturday. This consistency reflects a broader trend in the economy amid varying pressures.

On a month-to-month basis, the CPI saw an increase of 0.4 percent in July, marking a reversal from the 0.1 percent decline observed in June. The core CPI, which excludes volatile food and energy prices, recorded a rise of 0.8 percent, indicating a sustained upward trend for three consecutive months.

Simultaneously, the producer price index (PPI), which gauges the costs that producers face at the factory level, reported a decline of 3.6 percent year-on-year in July. Notably, the PPI experienced a minor month-on-month contraction of 0.2 percent, reflecting a decrease of 0.2 percentage points from June, which marks the first reduction in the monthly decline since March.

According to NBS statistician Dong Lijuan, prices in the consumption sector have shown encouraging signs of growth, spurred by government initiatives aimed at boosting consumer demand. The monthly rise in the CPI was largely influenced by increased prices in the service industry and consumer goods, alongside relatively steady food prices that helped maintain a balanced year-on-year CPI.

Dong further explained that the decline in the PPI can be attributed to seasonal factors and the prevailing uncertainties within the global trade landscape. Nonetheless, the ongoing enhancement of the domestic market competition environment has played a role in mitigating the extent of price decreases across related industries.