The Week in Numbers: A Look at the Inflation Figures in China and the US

China saw its Consumer Price Index (CPI), which is the main gauge of inflation, rise 1.5% year-on-year last month. But it was steady compared to May. Non-food prices went up 2.2% year-on-year, led by prices of medical and healthcare services, education, housing, and transportation. On the other hand, food prices slipped 1.6%, mainly due to lower prices of egg, pork, and fresh vegetables.

Meanwhile, the Producer Price Index, which measures goods’ costs at the factory gate, increased 5.5% year-on-year in June. This figure was also the same as in May, and was the lowest since last December.

Moving to the US, CPI was unchanged in June on the back of low energy prices after falling 0.1% in May. In the 12 months through June, the index increased 1.6%, which was the smallest gain since October last year. Next, retail sales fell 0.2% last month for a second straight month, largely due to declines in receipts at service stations, clothing stores and supermarkets.

In Singapore, retail sales in May increased 0.9% compared to a year ago. The improvement was mainly due to a 11.3% surge in sales of petrol, though there were lower takings by food retailers and other consumer goods sellers. Excluding motor vehicles sales which went up by 2%, retail sales put on 0.6% year-on-year.

On a month-on-month and seasonally adjusted basis, total retail sales fell 1.0% in May. After stripping out sales of motor vehicles, retail sales tumbled 3%. Total retail turnover in May came in at S$3.7 billion.

Below is a summary of the statistics:

Source: Department of Statistics Singapore

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