• Dongguan's June CPI down 0.5%
  • 2012-08-09  read:16735
  • According to statistics recently released by the Dongguan Survey Team of the National Bureau of Statistics, Dongguan's monthly consumer price index (CPI) dropped by 0.5% in June. Overall, the city's CPI for the first half of 2012 rose 4.2%.

    Analysis of the statistics indicate that June's CPI decrease was mainly affected by the fall of food prices. In June, food prices dropped by 1.5%, contributing to an overall CPI decrease of 0.51%. As a peak season for fresh vegetables, shrimp and crabs, June saw increases of vegetables and aquatic produce supplies. In turn, this resulted in a drop of consumer prices, 10.7% and 3.9% for vegetable prices and aquatic produce respectively.

    The continuous decline of domestic oil and gas prices also contributed to the drop. In June, the prices of liquefied petroleum gas dropped by 8.2%, while pipeline gas, petrol and diesel dropped by 3.7%, 4.8%and 5.1% respectively.

    Following policy-related price adjustments, water prices rose by 5.6% in June, contributing to a CPI increase of 0.06%.

    Six out of the eight main categories of expenditure saw increases. Yet food prices remain a dominant driving force for CPI fluctuations. With food prices up 8.6% in June 2012 over June 2011, they have contributed an overall annual CPI increase of 2.71%.

    By Stefanie Tan and Sev Pischl