Forexpros - Consumer price inflation in China rose unexpectedly in July, accelerating at the fastest pace in three years, official data showed on Tuesday.
In a report, China's National Bureau of Statistics said consumer price inflation rose by a seasonally adjusted 6.5% in July, after rising by 6.4% in June.
Analysts had expected Chinese CPI to rise by 6.4% in July.
The report also showed that producer price inflation rose by a widely expected 7.5% in July, after climbing by 7.1% in the previous month.
Following the release of the data, Asian stock markets were broadly lower. Hong Kong's Hang Seng Index tumbled 2.95%, while Japan's Nikkei 225 Index retreated 1.5%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
