The consumer price index (CPI), the main gauge of inflation in China, rose 2.5% year-on-year in August, less than analysts predicted.

According to official data released today by the National Bureau of Statistics of China (NBS), and cited by the Lusa agency, the CPI increase was 0.2 percentage points lower than the rise recorded in the previous month (2.7%).

The producer price index (PPI), meanwhile, which measures wholesale sales inflation, rose 2.3%, 1.9 percentage points below June's level (4.2%).

In both indicators, reads the Lusa article, the result is lower than expected by analysts, who predicted an increase of 2.8%, in retail, and 3.1%, in wholesale sales.

According to the GNE, the CPI increase is mainly due to the evolution of prices in the food market, such as pork, while in the case of industrial prices the increase is due to "multiple factors.

The authorities have set a target of 3% for CPI in 2022. However, Covid-19's 'zero cases' policy continues to affect consumption in China as the blockade of entire cities disrupts business and depresses economic activity.