China's consumer inflation moderates in Aug as lockdowns suppress spending

China’s consumer inflation unexpectedly moderated in August as sporadic lockdowns across the nation suppressed spending, while producer price growth slowed more than expected, giving policy makers enough room to support the troubled economy if needed.

The consumer price index rose 2.5% from a year earlier, the National Bureau of Statistics said Friday, down from 2.7% gain in July and weaker than the 2.8% median forecast in a Bloomberg survey of economists.

Factory-gate inflation slowed to 2.3% from 4.2% in July as commodity prices fell. The median estimate was for a 3.2% gain in the producer price index.

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