(CFP Photo)

Jiangsu's consumer price index (CPI) in July rose 0.4% compared to June and declined by 0.1% year-on-year, marking the first such decrease in 31 months.

The main gauge of inflation edged up 0.8% in the first seven months of the year, which represents 0.2 percentage points lower than that of the first six months.

The rare year-on-year decrease was primarily attributed to the higher figure registered in July last year and fluctuations in food prices. In July, prices of elderly care services and gold and silver products went up by 4.6% compared to one year ago. Meanwhile, prices of education, culture and entertainment rose 2.5% year-on-year, but food price dropped 0.8% year-on-year, 4.1 percentage points lower than the figure in June.

Pork price fell sharply in July, down 23.7% year-on-year, a significant contributor of the CPI decrease. In addition, the rising prices of fresh fruits and vegetables slowed down thanks to the seasonal supplies in the market.

However, the negative CPI growth is unlikely to continue in the future, given the economic recovery in the province and across the country. In addition, the prices of services in July increased by 1.4% year-on-year, and pork price began to bottom out in mid-July.