Consumer prices in China were up 2.8 percent on year in August, the National Bureau of Statistics said on Tuesday – unchanged from the July reading but above forecasts for an increase of 2.7 percent.

On a monthly basis, consumer prices were up 0.7 percent – accelerating from 0.4 percent a month earlier.

The bureau also said that producer prices declined 0.8 percent on year versus expectations for a contraction of 0.9 percent following the 0.3 percent drop in the previous month.

The material has been provided by InstaForex Company – www.instaforex.com