July 10, 2018 / 1:39 AM / 8 months ago

China June PPI up 4.7 pct, tops forecasts, CPI up 1.9 pct

BEIJING, July 10 (Reuters) - China’s annual consumer inflation rate rose slightly to 1.9 percent in June, in line with expectations, official data showed on Tuesday.

The consumer price index (CPI) had been expected to rise 1.9 percent from a year earlier, according to a Reuters poll, edging up from a 1.8 percent gain in May.

The producer price index (PPI) — a gauge of industrial profitability — rose 4.7 percent in June from a year earlier, accelerating from the previous month’s increase of 4.1 percent, the National Bureau of Statistics (NBS) said.

Analysts polled by Reuters had predicted producer inflation would pick up to 4.5 percent in June. June’s reading was the highest in six months.

China has set its 2018 consumer inflation goal at “around 3 percent”, in line with last year’s target. (Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)

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