The Chinese National Bureau of Statistics released its consumer and producer price inflation data for China on Thursday. The Chinese consumer price index (CPI) rose at annual rate of 1.4% in June, exceeding expectations for a 1.3% increase, after a 1.2% gain in May.

The increase was driven by rises in food and non-food prices. Food prices rose at an annual rate of 1.9% in June, while non-food prices increased 1.2%.

On a monthly basis, consumer price inflation was flat in June.

The Chinese producer price index (PPI) dropped 4.8% in June, missing forecasts of a 4.5% fall, after a 4.6% decline in May.