Shenzhen's consumer price index (CPI), a primary barometer of inflation, grew by 2.3% year on year in August, down 0.4% compared with July, according to the statistics released by the Shenzhen survey team of the National Bureau of Statistics on Sunday.
From January to August, the city’s CPI increased by 2.4% on average year on year.
In month-on-month terms, both food and nonfood prices declined in August, falling by 0.8% and 0.3%, respectively.
The demand for pork increased in August as the Mid-Autumn Festival approached, driving the pork price up slightly by 0.2%.
The prices of fresh vegetables edged down by 0.7% due to a relatively sufficient supply.
Food prices were up by 4.4% in August year on year, with the increase narrowing by 1.1 percentage points compared with the previous month.
In terms of nonfood commodities, the city’s gas price went down by 2.8% in August on a monthly basis. Rents for rental housing went down by 0.2% last month.