Chinese consumer prices climbed 2.6% year-over-year (YoY) in August, in line with economists' expectations

Chinese consumer prices climbed 2.6% year-over-year (YoY) in August, in line with economists' expectations. This figure compares with a 2.7% YoY rise in July. Meanwhile, producer prices fell 1.6%, beating expectations for a 1.7% decline. This also compares with a 2.3% fall the previous month. PPI has been down for five straight months, however, economists believe that producer prices bottomed out in July and the latest data also seems to confirm this case.