Chief Statistician Dong Lijuan of the Urban Division of the National Bureau of Statistics interprets the CPI and PPI data for July 2026.

In terms of year-on-year comparison, the national CPI increased by 0.5%, showing a moderate rise. The year-on-year CPI growth rate fell by 0.5 percentage points from the previous month, primarily due to a decrease in the rate of increase in gasoline prices. Gasoline prices rose by 1.0%, a decline of 16.0 percentage points compared to the previous month, which reduced its upward impact on the CPI by approximately 0.45 percentage points, leading to a decline in energy price growth to 0.6%. Excluding energy, the prices of industrial consumer goods increased by 1.5%, a decrease of 0.2 percentage points from the previous month, which contributed approximately 0.37 percentage points to the year-on-year CPI increase. Among these, the prices of gold jewelry, personal care products, and household appliances rose by 24.6%, 1.7%, and 0.2%, respectively, with all showing a decrease in growth, collectively impacting the year-on-year CPI increase by approximately 0.13 percentage points. The prices of computers, tablets, and mobile phones increased by 17.4%, 17.2%, and 8.5%, respectively, with all trends expanding, collectively impacting the year-on-year CPI increase by approximately 0.14 percentage points. Service prices rose by 0.7%, a decrease of 0.1 percentage points from the previous month, contributing approximately 0.36 percentage points to the year-on-year CPI increase. Within services, medical service prices rose by 4.3%, an increase of 0.9 percentage points from the previous month, affecting the year-on-year CPI increase by approximately 0.28 percentage points. Prices for domestic services, dining out, and educational services rose by 1.3%, 1.0%, and 0.6%, respectively, with overall growth remaining stable. Food prices decreased by 1.5%, a decline of 0.1 percentage points from the previous month, impacting the year-on-year CPI decrease by approximately 0.25 percentage points. Within food, pork prices fell by 13.3%, a narrowing of the decline by 2.6 percentage points from the previous month, affecting the year-on-year CPI decrease by approximately 0.25 percentage points. Prices for fresh vegetables, fresh fruits, grains, edible oils, and dairy products saw declines ranging from 0.3% to 1.5%. Egg prices increased by 17.8%, a decrease of 2.2 percentage points from the previous month. The price increases for lamb, beef, and poultry ranged from 1.6% to 6.2%.