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China's inflation rate could rise 1.7% this month

China's inflation rate could rise 1.7% this month
The Central Bank of the Republic of China

Mubasher: The consumer price index (CPI) in China is expected to grow in August by around 1.5% to 1.7% according to the Bank of Communications.

The actual numbers will be released by the National Bureau of Statistics (NBS) on 9 September, as reported by Emirates News Agency (WAM).

A rise in food prices in August may push up CPI growth, as food prices account for nearly one-third of the CPI, said Tang Jianwei, the bank's chief analyst.

Food prices are predicted to have increased by 1.4% points from July, affected by extreme weather during August, Xinhua News Agency quoted Tang.

Meanwhile, CPI growth is expected to be slightly lower in the second half of 2017 compared to H1-17, with little pressure of inflation for the whole year, according to Tang.