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China's consumer price index (CPI) in August rose 1.3 percent year-on-year, the National Bureau of Statistics (NBS) said in a statement, with the eight months to August index up 1.2 percent year-on-year.

In July, CPI rose 1 percent year-on-year and was up 1.2 percent in the first seven months. NBS said urban CPI in August rose 1.3 percent year-on-year while rural CPI was up 1.4 percent.

Food prices rose 1.4 percent year-on-year while non-food prices were up 1.3 percent. The price of consumer goods rose 1 percent year-on-year, with the price of services up 2.3 percent. Grain prices in August were up 3.1 percent from a year earlier, egg prices were down 4 percent, and meat and poultry prices fell 3.1 percent. Seafood product prices were up 2.4 percent in August from a year earlier while fresh vegetable prices fell 0.1 percent. Tobacco product prices were up 0.1 percent in August while spirits were up 1.5 percent. Clothing prices fell 0.5 percent year-on-year.

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The full text is available in the September Issue ofChina Banking.