China’s producer price index sees yr/yr drop of 1.8 percent in August
(MENAFN) According to data released by the National Bureau of Statistics (NBS) on Monday, China's Producer Price Index (PPI) experienced a year-on-year decline of 1.8 percent in August. This drop represents a worsening from July's decrease of 0.8 percent. The PPI measures the changes in the prices of goods at the factory gate and serves as an important indicator of inflationary pressures at the production level.
On a monthly basis, the PPI fell by 0.7 percent in August, a more pronounced decrease compared to the 0.2 percent dip observed in the previous month. This indicates a continued weakening in factory gate prices, influenced by various economic factors. NBS statistician Dong Lijuan attributed this decline to weak market demand and the downward trend in the prices of certain international commodities, which have exerted downward pressure on the PPI.
For the period from January to August, the average PPI recorded a decrease of 1.9 percent compared to the same period last year. This cumulative figure highlights the ongoing challenges in the manufacturing sector and broader economic conditions affecting price levels at the production stage.
In contrast, China's Consumer Price Index (CPI), which measures inflation from the perspective of consumers, rose by 0.6 percent year on year in August. This divergence between the PPI and CPI reflects differing pressures at the production and consumer levels within the Chinese economy.
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