China's July consumer prices jump faster than expected, producer deflation persists

China's consumer prices rose faster than expected in July, while producer deflation continued, as Beijing increased support for its struggling consumer sector amidst a slow economic recovery. The nation's consumer price index (CPI) increased by 0.5% year-on-year in July, compared to a 0.2% rise in June, according to the National Bureau of Statistics (NBS). This figure surpassed the 0.3% rise anticipated by economists in a Reuters poll.